Saudi oil pipeline remains shut after drone attack and supertanker explodes in Strait of Hormuz, pushing oil prices to $109

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Saudi oil pipeline remains shut after drone attack and supertanker explodes in Strait of Hormuz, pushing oil prices to $109

⚡ Markets: Significant supply-side shock to global oil markets. Bullish for crude oil (Brent, WTI), energy sector equities, and inflationary pressures, potentially forcing more aggressive central bank action.BrentWTIXLEUSD

A key Saudi Arabian oil pipeline, which bypasses the Strait of Hormuz, is expected to be out of service for weeks following a drone attack attributed to Houthi rebels. Separately, Iran's IRGC reported a supertanker exploded after hitting a naval mine in the Strait, further elevating global energy supply risks and pushing Brent crude to $109 per barrel.

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83 sources across the spectrum

Financial pressFinancial Times — Oil hits $109 after Saudi Arabia closes vital export pipeline

Google WestGoogle News (US) — Saudi Arabia has shut a critical oil pipeline. Here’s why it matters for the global oil market

Financial pressMarketWatch — The oil market is sending an increasingly loud warning about gas prices at the pump

West MSMAP — Saudi pipeline hit by drones will be out of service for weeks, further restricting oil flow

Financial pressWall Street Journal — Oil Prices Rise as Saudi East-West Pipeline Attack Threatens Export Routes

Financial pressMarketWatch — Saudi Arabia may be just days away from not being able to export much oil

Financial pressBloomberg — Saudis Seek to Boost Hormuz Oil Exports as Key Pipeline Attacked

West LeftCommon Dreams — Oil Hits $109 per Barrel as Photos Show Extensive Damage to Key Saudi Pipeline

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