The price of intermediate Texas oil (WTI) experienced a 4.4 % increase this Tuesday, reaching a closing price of $105.83 per barrel, the highest since May. WTI futures contracts for October added $4.44 per barrel compared to the previous closing. The crude oil price increase was due to information that Saudi Arabia has cancelled oil deliveries to European clients scheduled for September due to the closure of a major pipeline that suffered several drone attacks from Iraq.
The East-West pipeline, located in the regions of Riyadh and Medina, was the target of "multiple attacks in the morning of Thursday, September 10, 2026", so it was closed as a precautionary measure, according to the Ministry of Energy of Saudi Arabia, which reported on Friday. This oil installation transports approximately seven million barrels of crude oil per day and is the main supply route to global markets in the current context of tensions in the Strait of Hormuz.
Analysts from Goldman Sachs pointed out that the attacks against oil infrastructure "represent a significant escalation of the conflict and increase the probability of a bullish price scenario". In addition, the Houthi rebels in Yemen claimed to have attacked "with dozens of missiles and drones" an air base located in southern Saudi Arabia, with "precise and direct impact", in the midst of the offensive with which the Yemeni insurgents have taken control of the entire western coast of the southern peninsula of the Arabian Peninsula.
Petroleum and tension in the region
The Houthi military spokesman, Yahya Sarea, stated in a statement that the attack aimed at the King Khalid air base, in the Khamis Mushait province, in the south of that Arab kingdom, considered the main support for the internationally recognized Yemeni government forces, and that have been retreating in the last weeks before the rapid offensive of the group supported by Iran in the western coast of Yemen.
The situation in the region remains tense, with attacks and counterattacks between Saudi forces and Houthi rebels. The conflict has generated an increase in oil prices, affecting the global economy. The cancellation of oil deliveries to European clients by Saudi Arabia has added more uncertainty to the energy market.
Credits: deultimominuto.com
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