Pipeline Attack Sparks Oil Surge | Business and Finance News

Oil prices surged as Saudi Arabia’s critical East-West pipeline was hit by drone attacks from Iraq, disrupting oil flows and triggering global market jitters. WTI jumped 2.8% to $102.87, Brent rose 3.1% to $107.87, as the pipeline—bypassing the volatile Strait of Hormuz—now faces uncertain recovery. The blowback includes a postponed diplomatic summit in Oman aimed at calming tensions, amid rising regional instability and another tanker fire near Hormuz. The pipeline, moving 7 million barrels daily, has been vital for Saudi stability, even more so than U.S. strategic reserves. This attack is part of a broader wave of Iranian-linked strikes targeting Saudi energy infrastructure and civilian areas, with Houthis reportedly advancing toward control of the Bab el-Mandeb Strait, a key chokepoint for global trade. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Sources:https://www.cnbc.com/2026/09/13/oil-price-iran-war-strait-hormuz-saudi-pipeline.html More coverage & latest updates:https://sources.thednn.ai/03b444c85f494ffb Report issues to [email protected].