Brent Nears $110 After Saudi Pipeline Attack as Houthi Red Sea Moves Deepen Supply Fears
Updated
Updated · The New York Times · Sep 14
Brent Nears $110 After Saudi Pipeline Attack as Houthi Red Sea Moves Deepen Supply Fears
3 articles · Updated · The New York Times · Sep 14
Summary
Brent crude jumped more than 4% on Monday to near $110 a barrel, while U.S. benchmark WTI climbed to almost $104 as traders priced in fresh risks to Gulf oil flows.
Saudi Arabia shut its East-West Pipeline as a precaution after a drone strike, removing a key export route that bypasses the Strait of Hormuz, where shipping was already largely throttled.
Houthi forces were also reported to have seized a strategic Red Sea island and a port city, raising the risk of further disruption to shipping near another critical energy corridor.
The latest shock pushed Brent roughly 50% above its level at the start of the war, lifted gasoline prices, and added to broader market strain as bond yields hit 5% and stocks fell.
As strategic pipelines shut down and fuel prices surge, how much higher will the cost of living climb before global reserves run dry?
With both major Middle Eastern shipping chokepoints under siege, could this coordinated drone strike trigger a permanent shift in global energy routes?
If the devastating pipeline attack originated in Iraq rather than Yemen, what hidden forces are truly orchestrating the collapse of global oil security?