Saudi Arabia has preemptively closed its 1,200km East-West pipeline following a drone strike that caused damage and injuries. The pipeline, which accounts for approximately 4% to 5% of global oil supply, serves as a critical route for the kingdom to transport crude while bypassing the Strait of Hormuz.
Iraqi authorities confirmed that the drones originated from the Maysan governorate, a province bordering Iran. In response, the Iraqi government has dismissed the regional military commander and launched an investigation. Saudi Arabia has stated it will not retaliate immediately, opting instead to support Baghdad’s efforts to prevent future cross-border attacks. However, the Saudi foreign ministry emphasized that the kingdom "reserves its right to take all necessary measures to safeguard its sovereignty and security."
The incident coincides with a significant escalation in Yemen, where Houthi rebels have seized control of much of the Red Sea coastline, including the strategic city of Mokha. The resulting instability has caused crude oil prices to surpass $100 per barrel. Analysts warn that if the dual crises in Iraq and Yemen persist, prices could climb toward $120 per barrel, potentially driving up costs for manufacturing and transportation due to record-high diesel prices.
The Gulf Co-operation Council condemned the pipeline attack as a "dangerous escalation" and a violation of international law. Meanwhile, the United Nations has reported a surge in the humanitarian crisis in Yemen, noting that at least 76,000 people have been displaced since July, with the number of those fleeing their homes increasing fourfold in the past week alone.
Source: BBC News
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