Saudi Arabia’s East-West oil pipeline to the Red Sea was struck by a drone attack Wednesday, according to a person familiar with the matter, with damage still being assessed. The incident comes hours after a two-week ceasefire involving the U.S. and Iran was announced, even as the pipeline remains a critical export route amid ongoing disruptions in the Strait of Hormuz.
- The drone attack targeted the East-West pipeline, which transports crude from Saudi Arabia’s Gulf fields to the Red Sea.
- The extent of damage has not been disclosed.
- Saudi Aramco declined to comment on the incident.
- The pipeline has been a key export route as the Strait of Hormuz remains effectively closed.
- The attack follows a newly announced two-week ceasefire tied to negotiations involving Iran.
- The incident was first reported by the Financial Times.
Relevant Companies
- Exxon Mobil ($XOM) – Global oil supply disruptions can impact upstream production and pricing.
- Chevron ($CVX) – Exposure to crude markets may be affected by Middle East supply risks.
- Shell ($SHEL) – Integrated operations tied to global oil flows could be impacted.
Editor’s Note: This is a developing story. This article may be updated as more detail
