The attack on the East-West pipeline in Saudi Arabia forced local authorities to halt operations as a precautionary measure. This infrastructure is a vital export route for the country.
Market reaction followed the incident, with oil prices rising and stock futures falling. Brent crude reached $107.54 per barrel, while WTI crude was recorded at $102.93 per barrel.
Experts note that if the shutdown continues, it could impact approximately 4% of the global oil supply. The market remains sensitive to further updates from Saudi officials and OPEC.
