Satellite images have shown the extent of damage caused by a drone attack on Saudi Arabia's East-West pipeline, a critical network that transports crude oil from Abqaiq to the port of Yanbu. The images, released by Vantor and published via Getty Images, depict a bird's-eye view of fire damage and extensive blackened areas around a pumping station on the pipeline.
Saudi Arabia temporarily closed the roughly 750-mile system, known as Petroline, as a precautionary measure following multiple drone attacks launched from Iraq. Several people were injured in the strikes, which targeted a key stretch of the pipeline in the Riyadh and Medina regions.
The East-West pipeline is estimated to have a total design capacity of 7 million barrels per day, following recent expansions. Saudi Arabia has relied on this pipeline to shift crude exports away from the strategically vital Strait of Hormuz as fighting continues between the U.S. and Iran.
The pipeline's closure comes amid Yemen's Iran-backed Houthis ramping up attacks on Saudi Arabia and launching a ground offensive to gain control of the Bab el-Mandeb Strait, another critical oil choke point. Concerns are growing that the Houthis' advance could have significant ramifications for energy markets and global trade.
Oil prices have rallied in recent days amid deepening supply concerns in the Middle East. International benchmark Brent crude futures for November expiry rose 3.3% to $108.02 per barrel on Monday morning, extending gains after jumping more than 20% over the past month. U.S. West Texas Intermediate futures for October expiry, meanwhile, traded nearly 3% higher at $102.98. The contract, which is up nearly 25% over the past month, surpassed $100 for the first time since May last week.
