Key development: Saudi Arabia shut down its East-West pipeline after it came under attack, threatening to send energy prices soaring, according to France24. France24 links the closure to the Houthis tightening their grip on Red Sea shipping, while BBC reports the attack was a drone strike launched from Iraq. (BBC attribution [UNCONFIRMED])
Economy
(Update) Saudi Arabia shut down its East-West pipeline after it came under attack. France24 reports the 1,200-km pipeline — the main route out for Middle East oil while the Strait of Hormuz has been largely shut by war — was shut on Sept. 12, threatening to send energy prices soaring. BBC reports, [UNCONFIRMED], that the trigger was a drone attack launched from Iraq and that Iraq has removed a military commander and opened investigations.
Context: The 1,200-km pipeline has been the primary export route for global Middle East oil supplies for the past six months. On Sept. 11, the Houthis seized the strategic Red Sea port of Mokha. France24 frames the shutdown as a concrete escalation in the Houthi campaign against Red Sea shipping; BBC points to an Iraqi launch origin. Either way, the closure removes a key alternative export route while the Strait of Hormuz remains largely shut.
What to watch: Whether oil prices spike in the coming days and if Saudi Arabia can find another way to move crude before the Houthis tighten their grip further.