The latest attack on Saudi Arabia’s East-West oil pipeline could knock four per cent of global supply out of play, and with the Strait of Hormuz a mess, crude is getting more expensive.

Houthi strikes threaten Saudi oil exports as Brent hits $105 and Middle Eastern crude soars to $120.

Houthi strikes threaten Saudi oil exports as Brent hits $105 and Middle Eastern crude soars to $120.

Saudi Arabia's foreign minister said the Petroline was damaged following a drone launched by Iran-backed rebels in Iraq.

IRAN-CRISIS:Saudis shut down oil pipeline as Houthis tighten grip on Red Sea shipping