Saudi Oil Exports Halted Amid Drone Attacks on East-West Pipeline

Saudi Arabia has suspended oil shipments to Europe after drone attacks damaged its key East-West pipeline, a critical export route for the kingdom.

The attack on Tuesday forced Saudi Arabia to cut some oil shipments to Europe and cancel deliveries slated for September.

The Houthis, backed by Iran, have taken control of a vital chokepoint in the Red Sea, further disrupting global oil supplies.

Saudi Arabia's Prime Minister has agreed to send military advisers to the kingdom but is only 'considering' further action, according to Bloomberg.

US Energy Secretary Chris Wright told CNBC that crude oil would flow through the pipeline again within days, but this has not alleviated concerns over global energy prices.