Drone strikes force shutdown of Saudi East-West oil pipeline

Saudi Arabia's Energy Ministry said the kingdom's East-West oil pipeline was temporarily shut down after being struck by drones launched from Iraqi territory, with several people reported injured in the attack.

Why this matters. The East-West pipeline is a key alternate route for Saudi crude that bypasses the Strait of Hormuz, so any disruption to it removes one of the market's main hedges against a Hormuz closure and can push oil prices higher.