Saudi Arabia shut down East-West crude oil pipeline after multiple attacks by drones from Iraq
Published by CNBC
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On Tuesday, Saudi authorities said 73 people were injured and several oil facilities were temporarily shut down due to Houthi attacks.
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The drones targeted the pipeline in the Riyadh and Medina regions Thursday morning causing fires and some damage, the Saudi government said.
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Several people were injured in the attacks.
Several people were injured in the attacks, it said.
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Emergency teams were deployed to secure the pipeline and assess its safety after Thursday's attacks.
Emergency teams were deployed to secure the pipeline and assess its safety after Thursday's attacks, the Saudi Energy Ministry said.
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Riyadh has decided to refrain from retaliating for now to give the Iraqi government time to take measures to prevent attacks from its territory, the Saudi Foreign Ministry said.
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Saudi Aramco CEO Amin Nasser said last month that the East‑West pipeline has played a bigger role in mitigating the oil supply disruption caused by the Iran war than the release of emergency crude reserves.
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Oil prices this week broke above $100 per barrel for the first time in months as fighting has escalated in the Middle East.
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The attack on the pipeline may have played a role in the rally as rumors about the strike circulated Thursday.
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The kingdom's East‑West pipeline was shut down as a precautionary measure after multiple attacks.
Saudi Arabia said Friday that it shut down the kingdom's crucial East‑West crude oil pipeline as a precautionary measure after multiple attacks by drones launched from Iraq.
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The Houthis declared a maritime embargo against the Saudis in July.
The Houthis declared a maritime embargo against the Saudis in July.
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