Saudi Arabia shuts key oil pipeline as Hormuz blockade escalates supply risk

Saudi Arabia has shut down a major oil pipeline amid an escalating Iran conflict, with the Strait of Hormuz blocked and Bab al-Mandab threatened. The move tightens global oil supply and raises the risk of a price spike for crude and refined fuels. The extent of the shutdown and its duration remain unconfirmed, but the combination of chokepoint disruptions signals a significant supply shock.