Fresh Houthi missile and drone attacks on Saudi Arabia are deepening concern over global oil supplies as the kingdom’s East-West Pipeline remains offline and traffic through the Strait of Hormuz stays restricted.
Reuters reported attacks including the Khamis Mushait air base, while planned Gulf-Iran talks over Hormuz security were postponed. Saudi Arabia’s East-West Pipeline is especially important because it allows crude exports to bypass Hormuz. Its outage threatens as much as 4% of global oil supply.
Brent traded above $105 Tuesday after reaching above $108 intraday, while WTI remained above $102. Analysts warn a prolonged pipeline outage combined with limited Hormuz flows could push Brent toward $120-$130.
The key market risk is now the overlap of pipeline disruption, reduced tanker movement and renewed regional attacks — leaving global energy markets with little room for further supply losses.
