Iran's drones are hitting Saudi Arabia and the world: After new attacks, oil, petrol and diesel will remain expensive
A Saudi pipeline has decisively alleviated the oil shock caused by the Iran war. Now it is damaged and out of operation. The kingdom's tankers are also in new danger.
A Saudi Arabian pipeline that bypassed the Strait of Hormuz has been damaged and shut down after a drone attack attributed to Iran-friendly militias in southern Iraq. The 1,200-kilometer pipeline, which can transport up to 7 million barrels of crude oil per day, was a key alternative route for Saudi exports. The attack has pushed oil prices up, with Brent crude reaching $109 per barrel, and raised concerns about the security of oil supplies in the region.
Saudi Arabia's oil exports had been partially disrupted by an earlier blockade by Houthi rebels in Yemen, who have also been attacking ships in the region.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
