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Saudi pipeline hit by drones will be out of service for weeks, further restricting oil flow
- On Thursday, a drone attack that Saudi Arabia blamed on Iranian-backed militias in Iraq struck a crucial oil pipeline, forcing authorities to shut it down for three to five weeks to repair damage at a major pumping facility.
- The kingdom relies on this 1,200 kilometer East-West Pipeline to move crude from Gulf ports to Yanbu on the Red Sea, largely replacing exports through the Strait of Hormuz, which Iran has stifled during the ongoing war.
- Brent crude prices surged more than 2% to reach $109 as Rystad Energy warned a monthlong closure represents a "large disruption" for global markets expecting a potential loss of 2.6 million to 4 million barrels daily.
- Yemen's Iranian-backed Houthi rebels seized the strategic Greater and Lesser Hanish islands on Monday, tightening their grip on Red Sea shipping routes just 160 kilometers north of the Mandeb Strait.
- The escalating conflict has displaced nearly 94,000 people and killed more than 500 in the last week alone, as fighting threatens to reignite a decade-long war that killed more than 150,000.
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Associated Press News+4 Reposted by 4 other sources
Saudi pipeline hit by drones will be out of service for weeks, further restricting oil flow
A crucial Saudi oil pipeline that was struck in an attack will mostly be out of service for weeks as the damage is repaired. That's according to two regional officials.
·New York, United States
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Total News Sources5
Leaning Left4Leaning Right1Center0Last UpdatedBias Distribution80% Left
Bias Distribution
- 80% of the sources lean Left
80% Left
L 80%
R 20%
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