Middle East conflict escalates, threatening 4% of global oil supply after key Saudi pipeline shutdown and Houthi Red Sea advance

98⇄ REFRAMEDENERGY

Middle East conflict escalates, threatening 4% of global oil supply after key Saudi pipeline shutdown and Houthi Red Sea advance

⇄ West: An Iranian commercial ship was struck by a projectile. · Elsewhere: Iran claims the US attacked an Iranian commercial ship.

Iranian state media directly accuses the US of the attack, while Western wires report the event without assigning immediate blame.

⚡ Markets: Severe supply shock risk for crude oil. Bullish Brent/WTI, bearish for energy-importing economies, and negative for transport and industrial sectors due to higher fuel costs.BrentWTIXLEshipping_rates

A drone attack forced Saudi Arabia to shut down its main East-West pipeline, while Iran-aligned Houthi forces advanced along Yemen's coast, threatening the Bab al-Mandeb strait. These events, combined with attacks on shipping in the Strait of Hormuz, risk removing up to 4% of global oil supply and have caused crude prices to surge.

West MSM 16West Right 3Financial press 12Google West 6Regional 42Google Non-West 15Non-West Ind. 11Non-West State 19West Left 129 countries

125 sources across the spectrum

West MSMReuters — Saudi pipeline outage threatens loss of 4% of global oil supply

West RightThe Telegraph — Supplies of Saudi oil could run out ‘within days’ after pipeline attack

Financial pressWall Street Journal — Oil Rises to Multimonth Highs on Middle East Escalation

Financial pressOilPrice — Further Oil Price Spikes Could Rekindle Recession Fears

Google WestGoogle News (Poland) — Widmo paraliżu dostaw ropy. Atak na saudyjski ropociąg zagrożeniem dla światowego rynku

RegionalB92 — Nestaće saudijske nafte? Imaju četiri dana da pokrenu naftovod

Financial pressThe Economist — How an oil-supply crisis could bring about an investment boom

RegionalThe Straits Times — Saudi pipeline outage threatens loss of 4% of global oil supply

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