Saudi Pipeline Attack Disrupts Oil Route Bypassing Strait of Hormuz

Oil prices rose after Saudi Arabia shut down a major crude pipeline following attacks. The pipeline was a key route for oil shipments that avoided the Strait of Hormuz during the US-Iran war. At the same time, a planned meeting between Iran and several Gulf nations has been postponed. The meeting was meant to discuss creating a temporary shipping lane through the Strait of Hormuz. Hasan Alhasan, Senior Fellow for Middle East Policy at the International Institute for Strategic Studies, discussed these developments with Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa. *Source: Bloomberg*