Saudi Arabia has shut down its East-West pipeline as a precautionary measure after the vital oil conduit came under aerial attack. The world's largest crude oil exporter closed the critical pipeline after it was struck by drones that both Baghdad and Riyadh say originated in Iraq, where Iranian-backed militias operate.
Simultaneously, Iranian-backed Houthi rebels in Yemen have captured a strategic island in the Bab el-Mandeb Strait. This lightning advance threatens a crucial Red Sea shipping route and endangers Saudi oil exports through a key commercial lane.
These developments come amid a widening Middle East war and continue to squeeze Middle Eastern supplies, threatening to deepen the global energy crisis. Additionally, Iran continues to disrupt the Strait of Hormuz.