Oil Markets Seethe as Pipeline Shutdown Exposes Global Vulnerability The sudden closure of Saudi Arabia's East West pipeline, damaged by drones launched from Iraq, has sent oil prices surging.
Brent crude futures rose 3. 36% to $108. 13 per barrel, while West Texas Intermediate futures increased 3. 23% to $103. 28 per barrel.
At 1,200 kilometers long, the pipeline is a critical artery for oil distribution, carrying an impressive 7 million barrels per day – nearly a third of Saudi Arabia's total output.