Saudi Arabia Closes Pipeline Amid Intensifying Regional Tensions
Saudi Arabia has shut down its East-West pipeline as a precautionary measure after multiple attacks on Thursday. The conduit, which can transport seven million barrels of oil per day, was targeted by drones launched from Iraq in the Riyadh and Madinah regions.
The attacks, which caused several injuries, have raised concerns about the vulnerability of regional energy infrastructure to ballistic missile or drone attacks. Gregory Brew, a geopolitical analyst at the Eurasia Group, said that Thursday's attacks demonstrate 'a pretty clear demonstration that both Iran and its allies have both the capability and the will to strike regional energy infrastructure'.
The East-West pipeline has become crucial for Saudi Arabia's oil exports due to disruptions in the Strait of Hormuz. Oil prices remained little changed after the ministry's statement, with Brent futures trading at around US$105 a barrel.