Shocking! Global energy supply at risk as Saudi Arabia runs out of oil after fresh Houthi strikes

In a shocking development, Oil prices rose to ‌more than 3% on Monday, after new Houthi strikes on Saudi Arabia. Also, Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline. According to Reuters, Brent crude futures rose $3.21 to $107.82 per barrel and WTI futures gained $3.17 to $103.22 per barrel. "This follows a step-up in attacks on Saudi’s energy infra, including targeting east-west pipeline" Reuters said citing a source. Saudi Arabia's East-West oil pipeline was temporarily shut following a drone attack, according to Saudi officials. The shutdown of the pipeline, which helps Saudi avoid the Hormuz and re-route its exports, threatens up to 4% of global oil supply. With the pipeline out of service, Yanbu has enough inventory to cover just five to seven days of exports, Reuters said citing sources. Earlier, Saudi released video of damage to homes from what it said was a Houthi attack on ‌the country's ⁠southern Jazan province. Yemen's Iran-aligned Houthis reached strategic island of Perim on Friday, moving to tighten their control over the Bab el-Mandeb. Meanwhile, Omani has postponed a meeting between Gulf countries and Iran to ⁠discuss the Strait of Hormuz #OilPrices #CrudeOil #BrentCrude #WTI #SaudiArabia #Houthi #HouthiAttacks #Iran #Gulf #StraitOfHormuz #BabElMandeb #Yanbu #SaudiOil #OilSupply #GlobalOil #EnergyCrisis #MiddleEast #MiddleEastConflict #Geopolitics #OilMarket #EnergySecurity #OilExports #SaudiPipeline #Oman #BreakingNews #WorldNews #reuters Join ANI's YouTube membership to get access to perks:    / @aninewsindia   Subscribe now and press the bell icon 🔔 to get new video updates: https://bit.ly/2UV4ygi -------------------------------------- ANI is South Asia's leading Multimedia News Agency providing content for every information platform, including TV, Internet, broadband, newspapers, and mobiles. Subscribe now! Enjoy and stay connected with us!! ☛ Subscribe to ANI News YouTube channel: https://bit.ly/2UV4ygi ☛ Visit our Official website: https://www.aninews.in/ ☛ Follow ANI:   / ani   ☛ Follow us on Snapchat:   / @ani-news   ☛ Like us:   / aninews.in   ☛ Email to: anicontent@aniin.com, internetani@aniin.com ☛ Instagram:   / ani_trending   , https://www.instagram.com/podcast_ani... ☛ Copyrights © All Rights Reserved ANI Media Pvt Ltd.