Iran hits Saudi oil pipeline just hours into fragile truce

Iran attacked Saudi Arabia's East-West Pipeline just hours after a ceasefire was agreed to pause the Iran war, an industry source told Reuters on Wednesday, hitting its only crude oil export route since hostilities began.

Saudi Arabia's East-West Pipeline, currently its only outlet for exporting crude oil, was hit in an Iranian attack while other facilities in the kingdom were also targeted, an industry source told Reuters on Wednesday.

The pipeline was diverting around seven million barrels per day (bpd) from the kingdom's oil heartland in the east to the Red Sea port of Yanbu after Iran effectively shut the Strait of Hormuz, trapping huge volumes of oil and gas in the Persian Gulf and sending prices skyrocketing.