The Saudis closed the East-West pipeline after drones launched from Iraq damaged it. Riyadh has not disclosed how badly it is damaged or how long it will stay closed. The pipeline, which can carry 7 million barrels per day, has played a key role in easing the severe oil supply disruption triggered by the Iran war. A diplomatic meeting between Iran and the Gulf Arab states to discuss the situation in Hormuz was abruptly postponed after the pipeline attack. 
Crude oil
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