Skip to content
Back to Guavy Wire
Commodities

Houthis Capture Strategic Island as Saudi Pipeline Attacked by Iraqi Drones

Instruments
Oil
Share

Saudi Arabia shut down its major East-West pipeline after it was attacked by drones from Iraq, according to officials. The energy ministry described the move as a precautionary measure, but made it clear that Saudi Arabia reserves the right to take necessary measures to protect itself.

The pipeline, built in the 1980s, has played a key role in exporting oil via the Red Sea port at its end, which had seen more than doubled exports by early June. However, with Houthi rebels capturing strategic Mayun Island and threatening shipping lanes, Saudi Arabia is looking for alternative routes.

The Houthis have been attacking Saudi shipping on the Red Sea since declaring a blockade in July, as well as hitting oil infrastructure inside Saudi Arabia. Regional officials told the Associated Press that the Houthis helped Iraqi militias plan and execute the attacks.

The conflict risks a return to Yemen's civil war, with over 46,000 people fleeing the fighting in just this week alone, according to the UN migration agency. The surge has brought fears of famine for millions, as the Arab world's poorest country struggles to cope with the escalating violence.

More on Commodities

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

© 2026 Guavy Inc