Saudi Arabia's key pipeline takes a hit, and so do gas prices
Because nothing says 'great start to the week' like a drone strike on vital energy infrastructure.
So, someone sent drones to smack the East-West pipeline in Saudi Arabia, and now the whole thing is shut down. This isn't just a random pipe; it moves 7 million barrels a day and acts as the backup plan when the Strait of Hormuz gets too spicy.
Naturally, the markets panicked immediately. Oil prices jumped because everyone is realizing how fragile the energy supply chain actually is right now. Meanwhile, a high-level diplomatic meeting in Oman meant to calm things down was cancelled because, well, you can't exactly talk peace while a tanker is currently burning in the strait.
It seems like diplomacy has officially been grounded by remote-controlled tech.
Source: CNBC
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