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View all search resultsYemen's Iran-aligned Houthis launched a new wave of attacks on Saudi Arabia and were digging into positions on the western coast of Yemen along the Red Sea, Yemeni officials said, as urgent deliberations took place in Riyadh over how to respond to their lightning advance.
Oil prices had been expected to rise on Monday amid growing concerns about risks to supply from Saudi Arabia, the world's largest oil exporter, whose East-West oil pipeline was shut on Friday by a drone strike that originated in Iraq.
The developments are likely to deepen the Middle East war's impact on international commerce as Saudi Arabia shut down an oil pipeline following attacks, and after months of Iran's blockade of the Strait of Hormuz.
The 1,200-kilometer pipeline running across the Arabian Peninsula had helped Saudi Arabia to bypass a shipping logjam in the Strait of Hormuz, where tanker traffic has slowed to a trickle due to the war between the United States and Iran.
Riyadh is looking to strengthen its security ties against the backdrop of war between the United States and Iran, which has drawn in surrounding nations and disrupted shipping through the Strait of Hormuz and the Red Sea.
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