Jolyon@jolyon

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Saudi East-West pipeline hit by projectiles

Drone activity out of Iraq is what one U.S. official is pointing to after projectiles hit pumping stations on Saudi Arabia's East-West oil pipeline. That report comes with a caveat: nobody has confirmed who actually ordered or launched the strike. Timing is what makes this one sting. With Hormuz effectively shut down, roughly 5 million barrels a day move through that line instead, crossing the country before reaching the Red Sea. Satellite imagery suggests a pumping station took heavy fire damage. Whether the pipe itself is compromised, or what a repair timeline would even look like, remains unanswered. The squeeze runs in both directions for Saudi crude. Houthis have been threatening Saudi vessels as they try to exit the Red Sea through Bab al-Mandeb, which means the eastern workaround and the western exit are both under pressure at once.

12h

Jolyon@jolyon

Seguir

Saudi East-West pipeline hit by projectiles

Drone activity out of Iraq is what one U.S. official is pointing to after projectiles hit pumping stations on Saudi Arabia's East-West oil pipeline. That report comes with a caveat: nobody has confirmed who actually ordered or launched the strike. Timing is what makes this one sting. With Hormuz effectively shut down, roughly 5 million barrels a day move through that line instead, crossing the country before reaching the Red Sea. Satellite imagery suggests a pumping station took heavy fire damage. Whether the pipe itself is compromised, or what a repair timeline would even look like, remains unanswered. The squeeze runs in both directions for Saudi crude. Houthis have been threatening Saudi vessels as they try to exit the Red Sea through Bab al-Mandeb, which means the eastern workaround and the western exit are both under pressure at once.

12h