Oil prices have risen following the shutdown of a pipeline in Saudi Arabia due to Houthi attacks. Brent crude oil closed trading on September 11 at $104.56 per barrel, increasing by more than 8% over the week. The day before, prices surged sharply after reports of a Houthi drone attack on energy facilities in southern Saudi Arabia and the publication of satellite images. The Houthis also claimed to have captured several islands in the Bab-el-Mandeb Strait, through which about 12% of the world's cargo traffic passes. Saudi Arabia suspended operations of the East-West pipeline after the drone attacks, creating a threat to the oil export route from the Persian Gulf, which has become a crucial alternative to the Strait of Hormuz. Shipping through it has not been fully restored for more than six months due to the ongoing U.S. war against Iran, Deutsche Welle reminds us. Against the backdrop of new attacks, the price of diesel fuel in the U.S. reached a record $6 per gallon (3.785 liters). According to the Financial Times, the rise in prices increases pressure on the Donald Trump administration ahead of the midterm elections, which will determine control of Congress. Meanwhile, a Saudi official speaking with the FT did not answer the question of whether the U.S. had refused to assist the kingdom against the Houthis.
