Saudi Arabia has shut down a major pipeline a day after it was attacked by Iraqi drones on Thursday.
The East-West pipeline – which carries around 5 per cent of global oil supply – was closed as a ‘precautionary measure’, the Saudi Ministry of Energy said.
In a statement carried by the state-run Saudi Press Agency, the kingdom said it would not respond to give the Iraqi government ‘an opportunity to take the necessary measures.’
The closure has sparked fears of a global fuel price surge, as crude prices this week soared again above $100 a barrel.
Iraq‘s Prime Minister Ali al-Zaidi, who is
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