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Saudi Arabia shuts East-West crude pipeline after attacks

financeSep 11, 202618241

Saudi Arabia shut down its East-West crude oil pipeline as a precaution after multiple attacks that struck facilities in the Riyadh and Madinah regions, the kingdom's Energy Ministry said. The ministry reported multiple injuries and said emergency teams were deployed to secure the pipeline and assess safety, adding any further developments would be announced in due course. The cross-country pipeline runs to Red Sea export terminals and has a capacity of 7 million barrels per day, a route Riyadh has used to bypass the Strait of Hormuz. Saudi officials did not name an attacker or confirm major damage, though Iran-allied Houthi militants have escalated strikes this week and earlier Houthi strikes injured more than 70 people. Saudi Aramco CEO Amin Nasser has said the East-West pipeline has played a larger role than emergency reserve releases in mitigating supply disruptions from the Iran war. Oil prices this week topped $100 per barrel and closed more than 8 percent higher amid the renewed fighting and reports of the pipeline strike.

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