Saudi Arabia shuts its vital East-West oil pipeline after drone attacks launched from Iraq, as regional tensions and Red Sea threats push oil prices above $100.

The pipeline has played a key role in Saudi Arabia’s ability to continue exporting oil following the disruption of the Strait of Hormuz.

A key oil pipeline system in Saudi Arabia was struck by projectiles on Thursday, according to two US officials familiar with the matter.

Pipeline has been shut 'as a precautionary measure', Saudi energy ministry says