Saudi Oil Pipeline Attacked as Houthi Rebels Tighten Grip on Red Sea

Saudi Arabia has temporarily shut down its East-West oil pipeline after it was attacked by drones on Thursday. The attack, which originated in Iraq, where Iranian-backed militias operate, caused some injuries and damage to the pipeline.

The pipeline, which runs for 1,200 kilometers across the Arabian Peninsula, had been carrying 4 million to 5 million barrels of oil per day, accounting for 4% to 5% of global supply. The shutdown is a precautionary measure taken by Saudi Arabia to protect its interests.

The attack on the pipeline comes as Iran-aligned Houthi rebels in Yemen tightened their grip on the Red Sea, further disrupting shipping and putting an energy squeeze on both sides of the Arabian Peninsula. Global oil prices have risen above $100 per barrel due to the ongoing conflict.