Saudi Oil Pipeline Attacked, Strait of Hormuz Shipping Traffic Plummets

TechFlow reported on September 12 that, citing Jinshi Data, tensions in the Middle East continue to escalate. The Saudi Ministry of Energy confirmed it has temporarily closed the east-west oil pipeline following an attack. Shipping through the Strait of Hormuz has been disrupted, with daily vessel traffic falling to just seven on Thursday, well below the ten-day average of 15 vessels.

An investigation by the Office of the Prime Minister of Iraq confirmed that recent drone attacks targeting Saudi Arabia originated from within the country. The Saudi Ministry of Foreign Affairs stated that, at the request of the Iraqi Prime Minister, it has decided not to take retaliatory action at this stage. Additionally, Houthi forces announced they have taken control of the Strait of Bab el-Mandeb and resumed operations at Mocha port. Iran’s Ministry of Foreign Affairs confirmed that a regional meeting of Gulf states will be held next Monday to advance the Strait of Hormuz agreement.