Saudi pipeline shutdown deepens oil supply crisis as Houthis tighten Red Sea grip

Saudi Arabia $KSA has shuttered a critical oil pipeline following a drone attack by Houthi forces, who have consolidated control over Red Sea shipping corridors. Oil tanker rates have hit record highs as global commerce navigates intensifying supply bottlenecks and geopolitical risk.

WTI crude $WTI trades near $100 per barrel, buoyed by concerns over sustained supply disruptions and Middle East tensions. The shutdown compounds inflationary pressures already weighing on central banks worldwide.

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