Saudi Arabia shut down East-West crude oil pipeline after multiple attacks by drones from Iraq
Iran-allied Houthi militants in Yemen have escalated strikes on Saudi Arabia this week.
TL;DR
- Saudi Arabia shut down the East-West crude oil pipeline due to drone attacks from Iraq.
- The drones targeted the pipeline in Riyadh and Medina regions, causing fires and damage.
- Several people were injured in the attacks.
- The pipeline is crucial for shifting crude oil exports away from the Persian Gulf to the Red Sea.
- Saudi Arabia will not retaliate for now, giving Iraq time to prevent further attacks.
- Oil prices have risen above $100 per barrel amid escalating Middle East tensions.
- Houthi militants from Yemen have also increased attacks on Saudi Arabia, targeting energy facilities and civilian assets.