AGP Executive Report
Last update: 2 hours agoRed Sea Energy Shock: Saudi Arabia shut its East-West crude pipeline after “multiple” drone attacks in Riyadh and Madinah, reporting injuries and damage and saying the drones came from Iraq; Riyadh paused retaliation at Baghdad’s request while technical teams assess the line. Iraq Accountability: Iraq dismissed a senior commander tied to Maysan Operations and opened an investigation, reiterating that Iraqi territory must not be used for attacks against neighbors. Yemen Escalation: As Houthis tighten control around Bab al-Mandeb—including moves toward Perim/Mokha—Saudi oil exports and regional shipping face fresh pressure, with analysts warning the corridor could become a major choke point. Oil Prices & Cost Pressure: Saudi output reportedly plunged to its lowest since 1990 amid the wider Iran war squeeze, while Brent pushed above $100 and U.S. diesel hit record highs. Diplomacy in Parallel: GCC and Qatar condemned the pipeline strikes; Qatar and Saudi leaders also discussed de-escalation and freedom of navigation, while Iran says Gulf states will meet in Oman on Hormuz talks.
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