Saudi Pipeline Halted After Drone Attack from Iraq Amid Escalating Mideast Tensions
Saudi Arabia has temporarily halted operations on its key East-West oil pipeline after an attack by drones launched from Iraqi territory. The Saudi Foreign Ministry confirmed that several drones targeted the pipeline, causing damage and casualties. Riyadh said it reserves the right to respond but will give Iraqi authorities a chance to prevent further strikes.
The pipeline is crucial for transporting crude oil across the country to the Red Sea, bypassing the Strait of Hormuz. However, this route has now also proven vulnerable to attacks. The Houthi movement in Yemen, backed by Iran, announced significant gains and said they had driven Saudi forces from most of the Red Sea coast.
The developments create new risks for oil exports amid the ongoing US war with Iran and add pressure to global energy markets. Brent crude has risen above $100 a barrel, while diesel prices have set an all-time record in the US.