BBC: Saudi Pipeline Reduces Global Fuel Supply

An American BBC report revealed that approximately 5% of the global fuel supply was taken off the market due to the bombing of a Saudi oil pipeline targeted by an attack across Iraqi territory, which led to the closure of the Saudi pipeline. Oil prices are expected to exceed $120 per barrel if the lost supply is not restored, with particular emphasis on increasing diesel fuel prices. The Iraqi government announced the formation of a joint investigation committee with Iran to uncover details of the attack on the Saudi oil line.

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