Commodities
Saudi Oil Pipeline Shutdown Threatens Global Supplies Amid Houthi Attacks
The Saudi East-West pipeline, which carries oil from Gulf ports to the port of Yanbu on the Red Sea, will be out of service for weeks due to damage sustained in a drone attack blamed on Iranian-backed Houthi rebels.
The attack forced authorities to shut down the 1,200-kilometer pipeline, which has been moving an average of 2.6 million to four million barrels per day since late August.
Repairing the damage could take three to five weeks, according to regional officials, and even if it operates partially during repairs, oil deliveries will be impacted.