Saudi Oil Supply Under Threat as Drone Strikes Hit Pipeline

Oil prices have surged to over $110 per barrel as Saudi Arabia's oil transport network is under threat from both sea and land. The kingdom's critical east-west pipeline, which stretches 1,200 kilometers across the Arabian Peninsula, has been shut down after drone strikes targeted the Riyadh and Medina regions.

The attacks are a major blow to global oil supply, with Saudi Arabia routing about 5 million barrels of crude per day through the pipeline. This is equivalent to 4-5% of global oil supply.

According to Reuters, the drones used in the attack were launched from Iraqi territory, and Iraq's prime minister's office has confirmed that they originated within its borders.

Saudi Arabia has directly appealed to the United States for help, but the Trump administration reportedly turned down Crown Prince Mohammed bin Salman's request. The administration is monitoring the escalating Houthi offensive and is in ongoing consultations with the Saudi and Yemeni governments.