SAUDI Arabia has been forced to shut down a key oil pipeline after it was hammered by drones launched from Iraq.
The East-West pipeline – which carries around 5 percent of global oil – has been closed as a triple blockade chokes the Middle East‘s fuel supplies.
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The Saudi Ministry of Energy described the closure as a “precautionary measure”.
Running 745 miles across the Arabian peninsula, the pipeline bypassed both the Strait of Hormuz and Bab el-Mandeb Strait.
The two vital waterways are currently patrolled by Iran‘s vicious Islamic Guards and the pariah’s proxy Houthi rebels.
As such, global oil prices have skyrocketed with crude prices surpassing $100 a barrel again this week, giving Tehran more leverage in talks.
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The Saudi kingdom has chosen not to retaliate to the drone strike to give the Iraqi government “an opportunity to take the necessary measures.”
The attack originated from one of the provinces on the Iranian border where Iranian-backed militias operate.
Satellite images showed smoke billowing where the pipeline was hit just south of Medina in the Hejaz Region.
Riyadh said it would support the efforts of the Iraqi government” to prevent attacks” launched from the country against neighbouring states.
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The statement added: “Saudi Arabia reserves its right to take all necessary measures to safeguard its sovereignty and security, protect its facilities, and ensure the safety of its citizens and residents.”
Iraq responded by saying the operations commander in Maysan – a southern province bordering Iran – had been sacked following the drone launch.
The Gulf Co-operation Council – made up of the United Arab Emirates, Bahrain, Oman, Qatar and Kuwait – condemned the attack.
Secretary General Jasem Mohamed Albudaiwi said it represents a “dangerous escalation and an unacceptable threat” to Saudi security.
He added that it was also a “flagrant violation of the principles of international law“.
It comes amid fears that Houthi rebels threaten to paralyse global trade completely after seizing a critical island in the Bab al-Mandab Strait.
The key waterway, also known as the Gate of Tears, is critical choke point at the mouth of the Red Sea.
Ships have to pass through the 20-mile channel between Djibouti and Yemen to get goods to or from the Suez canal – the vital artery linking Europe and Asia.
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A huge 12 per cent of all global trade flows through Suez.
The seizure of the Perim island is the Houthis’ biggest territorial gain in years and puts them in a strong position to threaten vessels in the Gate of Tears.
Markets fear that it could lead to a terrifying triple blockade that would spark an economic meltdown.
Oil exported from the Gulf now has to travel through three huge barriers to reach Europe – the US blockade of Iranian ports, the IRGC blockade of Hormuz and the threat from the Houthis in the Gate of Tears.
Retired Major General Chip Chapman, former senior British military commander to US Central Command, told The Sun that the chance of this triple blockade will send the price of petrol shooting up.
He said: “Not only have you got the Strait of Hormuz, which is a choke point where you’ve got a double blockade, but this also leads to a triple blockade with the Bab al-Mandab.
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“That’s the significance of both the capture of Perim Island and Mocha.
“A barrel of Brent Oil, the real benchmark that people use, is $104 today. It was $100 earlier in the week. That means that you’ll see your prices of your petrol going up.”