U.S. crude oil tops $106 as market awaits updates on Saudi pipeline outage
Iran-backed Houthi militants in Yemen, meanwhile, carried out renewed strikes on Saudi Arabia this week.
U.S. crude oil tops $106 as market awaits updates on Saudi pipeline outage
Iran-backed Houthi militants in Yemen, meanwhile, carried out renewed strikes on Saudi Arabia this week. Grouped from 7 articles across 5 sources.
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Oil prices rise after Saudi Arabia shuts down critical pipeline that bypasses Strait of Hormuz
Saudi Arabia has faced escalating attacks from Iran-allied militant groups in recent days.
Satellite images show extent of damage to Saudi Arabia’s oil pipeline that bypasses Strait of Hormuz
Saudi Arabia temporarily shut the roughly 750-mile pipeline as attacks threaten a key alternative to the Strait of Hormuz.
Oil surges past $108 as Hormuz attack and Saudi pipeline shutdown rattle markets
Brent crude climbed above $108 a barrel on Monday morning after a merchant vessel was struck in the Strait of Hormuz, killing one crew member, and Saudi Arabia shut its main pipeline bypassing the waterway, renewing fears that Middle East supply routes are closing.
Oil hits $109 after Saudi Arabia closes vital export pipeline
Riyadh pulls out of regional talks to de-escalate hostilities over Strait of Hormuz in wake of drone attack last week
Why Saudi Arabia’s East-West pipeline matters for global oil
The 1,200km (745-mile) pipeline has been temporarily closed, affecting up to 5 percent of global oil supply.
First Thing: Oil prices surge as attacks on Saudi Arabia stoke supply fears
Strike on kingdom’s east-west pipeline could affect 4% of global oil supply. Plus, report reveals British monarchy’s role in financing slave trade Don’t already get First Thing in your inbox? Sign up here Good morning. Oil prices have climbed above $108 a barrel after a series of drone attacks from Iraq’s territory forced Saudi Arabia to close its east-west crude pipeline. Saudi traders said the kingdom would run out of oil stocks for export if it did not reopen within days. Gas prices also climbed higher. Energy prices have surged this year, as the US-Israel war with Iran has disrupted oil and gas supply across the Middle East. The spike came as the Iran-aligned Houthi forces in Yemen launched several attacks against Saudi Arabia and captured the strategic island of Perim in the Bab al-Mandab strait on Sunday, expanding their control of the waterway. Where did the attack on Saudi Arabia come from? Iraq’s government confirmed the attacks were launched from its territory and ordered an investigation. Baghdad is under mounting pressure to stop militant groups – including those backed by Saudi Arabia’s regional rival Iran – launching attacks on Gulf countries from Iraqi soil. The US president, Donald Trump, said he believed Tehran was responsible. Why has Saudi Arabia been relying on its east-west pipeline? Riyadh has increased the use of the 745-mile pipeline since the start of the war on Iran in order to bypass the strait of Hormuz’s closure. The world’s biggest exporter has used the pipeline to reroute about 4m barrels a day – about 4% of global supply – but with the pipeline out of service, the Red Sea port of Yanbu now has stocks to maintain exports for just five to seven days. What is the Anthropic CEO proposing? Robert Booth explains Amodei’s suggestion: first, each US AI company grants access to third-party evaluators; second, all companies in democratic countries establish common safety standards; and third, the world’s democratic AI powers coordinate with autocracies – notably China – to control the race. How has Barack Obama intervened over AI? The former US president made a direct appeal to Democrats to coalesce around a unified AI safety policy, arguing that waiting for voluntary compliance from tech firms was a recipe for governance failure. Continue reading...
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