Saudi Pipeline Closure Triggers Global Energy Worries
Saudi Arabia has closed its East-West pipeline after an attack by drones from Iranian-backed militias in Iraq, raising fears of global energy shortages and higher fuel prices.
The closure could take three to five weeks to repair, according to two regional officials who spoke to the Associated Press.
The East-West pipeline is a crucial oil transport route for Saudi Arabia, which is the largest oil producer in the Middle East. The attack has raised concerns that global energy markets already under strain from the war with Iran could face even greater shortages and price increases for fuel and other essentials.