Iran Push To Control World Oil Indicated By Pipeline Attack
Saudi Arabia closed the East-West Pipeline after it was struck on Friday.
A recent drone attack on a major oil pipeline in Saudi Arabia suggests a deliberate effort by Iran and its allies to control regional oil exports, potentially in response to tensions with the United States, according to experts. The attack on the 745-mile East-West pipeline, which carries a fifth of the global oil supply, prompted Saudi officials to temporarily halt operations.
Satellite imagery captured smoke and damage near the pipeline, with traces of explosives and drone launchers discovered in Iraq's Maysan province near the border. The Institute for the Study of War noted that the incident demonstrated the involvement of Houthis and other Tehran-backed actors in the region working together to pressure Saudi Arabia.
The Houthis have been linked to attacks on U.S.-linked targets in Iraq since the beginning of the Iran conflict. Saudi Arabia's oil exports have already dropped from five million barrels per day in July to three million barrels per day in August. While hitting pipelines may not immediately disrupt oil exports, the attack could further strain oil markets if sustained, potentially pushing Brent crude prices to $110 per barrel by year's end.
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