Saudi Arabia announced on Friday that it has shut down its vital east-west crude oil pipeline as a precautionary measure following multiple attacks. The Saudi Energy Ministry reported that the pipeline was targeted on Thursday morning in the Riyadh and Medina regions, with the assaults resulting in several injuries.

The pipeline, which has a daily capacity of 7 million barrels, runs across the entire country to export terminals on the Red Sea coast. Saudi Arabia has been relying on this route to divert crude exports away from the Persian Gulf amid ongoing tensions between the United States and Iran over control of the Strait of Hormuz.

According to the Energy Ministry, emergency response teams have been deployed to protect the pipeline and assess its safety following Thursday's attacks. The ministry stated that any further developments would be announced at an appropriate time, while stopping short of identifying who was behind the assaults or confirming whether the pipeline had sustained significant damage.

Iran-backed forces have escalated attacks against Saudi Arabia this week. Yemen's Houthi rebels launched strikes earlier in the week that hit energy facilities and other assets, leaving more than 70 people wounded. The group had declared a naval embargo against Saudi Arabia in July and has been attempting to disrupt the kingdom's oil exports through the Bab el-Mandeb Strait, which connects the southern Red Sea to global markets.

Last month, the CEO of Saudi Aramco, Amin Nasser, stated that this pipeline plays a more critical role than releasing emergency crude reserves in mitigating potential oil supply disruptions caused by war-related tensions with Iran. Oil prices broke through the $100-per-barrel mark this week for the first time in months as fighting in the Middle East escalated, with speculation about the pipeline attack potentially contributing to price gains. Crude prices finished the week with gains exceeding 8%.