Oil is surging after Saudi Arabia shut its critical pipeline that bypasses Hormuz
Global oil prices have surged following the closure of Saudi Arabia's critical East-West pipeline after it was struck by drones launched from Iraq. The pipeline, which bypasses the Strait of Hormuz, currently has no set timeline for reopening.
Why it matters
The disruption of key energy infrastructure in the Middle East poses a significant risk to global oil supply chains and market stability.
Drones launched from Iraq struck the East-West pipeline on…
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