Oil tops $109 after Houthi strikes, Saudi pipeline shutdown
The Houthi militia said on Monday that it fired dozens of drones and ballistic missiles at military targets in Saudi Arabia in retaliation for airstrikes by Riyadh in Yemen.
Saudi Arabia's vital 1,200-kilometre East-West oil pipeline is anticipated to be out of commission for several weeks following an attack, exacerbating the kingdom's challenges in transporting crude to Red Sea ports. The pipeline, capable of handling up to 7 million barrels of oil daily, was shut down on Thursday after Iran-backed Houthis seized the strategic islands of Greater Hanish and Lesser Hanish, located about 32km from a U.S. military base in Djibouti.
Repairs could span three to five weeks, including work at a major pumping facility. The Houthis have also captured Mocha and Mayun, two Red Sea ports crucial for global shipping. Iran's Foreign Ministry denied directing the Houthis, describing them as independent actors. The escalating conflict has also displaced 86,000 people, according to the International Organisation for Migration.
Written by urgent.news from Gulf News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
