Saudi Oil Pipeline That Bypasses Hormuz Shut After Attacks

(Bloomberg) -- Saudi Arabia's critical East-West oil pipeline that acts as a workaround for shipments unable to transit the Strait of Hormuz was shut as a precautionary measure following multiple attacks on Thursday, the Ministry of Energy said.

The attacks caused several injuries and emergency teams are taking steps to secure the pipeline and assess its safety, the ministry said in a post on X.

Oil prices have surged this week, with Brent crude trading above $100 a barrel again, as fighting has intensified across the Middle East, with Houthi assaults on Saudi energy facilities and US strikes targeting Iranian oil tankers.