Iran war latest: Saudi Arabia issues all-clear after wave of alerts in Riyadh and Al Kharj

Saudi Arabia has notified European oil refining customers that they will not receive crude oil shipments in October due to attacks on its East-West Pipeline and Red Sea port of Yanbu. The pipeline, which bypasses Iran and the Strait of Hormuz, was disabled by a drone attack last week, which Saudi Arabia claimed came from Iraq. The Houthis have also targeted the Yanbu port and Aramco oil facilities.

Brent, the international benchmark for crude oil, has risen since the Houthis launched their offensive in Yemen. Energy analysts note that the price of refined products, such as diesel and jet fuel, is even higher than the current price of Brent. Saudi Arabia has had to reroute its oil shipments through the Suez Mediterranean Pipeline after the Houthis declared an embargo against the kingdom's shipping.

Saudi Arabia has been leading a coalition of Arab states to oust the Houthis from power since they conquered a large portion of Yemen ten years ago.