Oil Prices Rise Again
Photo shows a heavily damaged Saudi pipeline
As reported, the Saudi East-West pipeline—which can transport large quantities of oil from the Persian Gulf to the Red Sea, bypassing the de facto blockade of the Strait of Hormuz—was shut down as a precaution following attacks on the pipeline in the Riyadh and Medina regions. Satellite images have now been released showing the extent of the damage. Meanwhile, oil prices have continued to rise at the start of the week.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen Following their advance in civil war-torn Yemen, the pro-Iranian Houthis are also intensifying their attacks on Saudi Arabia. The militia, allied with Iran, attacked an army base in southern Saudi Arabia with drones and missiles, Houthi military spokesman Yahya Saree said Sunday on the online platform X.
The attack on the Saudi Arabian base in Sharurah targeted “weapons depots as well as command and control centers,” Houthi spokesman Saree said. He did not initially specify exactly when the attack took place. The Gulf state responded with numerous airstrikes; according to Houthi reports, the airport in the port city of Mocha was hit. The Houthis had previously taken control of Mocha as well. Yemeni government forces also reported attacks on Houthi positions in southwestern Yemen. About 1,400 people fled the fighting to neighboring Djibouti.
The extent of the damage to the pumping station is gradually becoming clearer
In recent days, the Houthi militia had launched a large-scale offensive and, in battles against Yemeni government forces, captured the entire Yemeni coastline along the Red Sea. According to the Yemeni government, the militia now controls the Bab al-Mandab Strait—a vital waterway for global trade that connects the Gulf of Aden to the Red Sea. But oil exports are also being restricted away from the straits: Saudi Arabia, the world’s largest oil exporter, had to shut down a key oil pipeline following an attack. The extent of the damage is gradually becoming clearer.
As early as 2019, the Houthis had attacked several pumping stations along the approximately 1,200-kilometer-long pipeline. But this time, the damage caused to one of the pumping stations is likely to be more severe, as evidenced by an image published on Sunday. Nearly the entire area is covered in jet-black soot, and collapsed buildings are visible. Other images show excavation work taking place near the facility. According to experts, this could indicate that repair work is already underway or that auxiliary pumps are being installed to restore proper pressure in the pipeline.
The additional reduction in Saudi exports is causing oil prices to rise further. The price of a barrel (159 liters) of Brent crude oil from the North Sea, for November delivery, climbed by just under three percent early Monday to $107.60 (about 94 euros), bringing it closer once again to the $110 mark. On Friday, the Brent price had fallen slightly after a rapid rise in the preceding days. The reason for Friday’s decline was hope for a de-escalation of the Middle East conflict. But that hope has vanished for now.
Gas Prices in Austria Remain High
As a result, fuel prices in Austria also remain high. Yesterday, Sunday, the nationwide average price for diesel was 2.158 euros, slightly less than on Saturday (2.178) and Friday (2.192), but higher than the previous week. For gasoline, the price on Sunday was 1.856 euros, which is also slightly lower than recently, according to data from E-Control.
In the week before the start of the war in the Middle East, diesel had cost 1.57 euros per liter and gasoline 1.52 euros per liter. After a temporary lull from May through July, prices climbed sharply again in the wake of the renewed escalation between the U.S. and Iran.
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