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Commodities

Saudi Arabia's East-West Pipeline Shutdown Sends Global Crude Prices Soaring

Guavy AI Editorial Team
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Oil
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A drone attack from Iraqi territory has damaged Saudi Arabia's East-West Crude Oil Pipeline, severing a critical supply route and driving global crude prices above $108 per barrel.

The pipeline, known as Petroline, carries crude from the kingdom's eastern oil fields to the Red Sea port of Yanbu. Authorities shut down the system as a precautionary measure after drones damaged key pumping stations on September 11.

The attack has deepened an energy crisis amid the wider 2026 Iran war, forcing the United States Energy Deputy Secretary James Danly to seek alternative heavy crude supplies in Venezuela.

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