Texas drivers could face more pressure at the pump after a drone attack shut down a Saudi pipeline carrying about 4% of the world’s oil supply, threatening exports if crews cannot restore operations before stored oil runs out, Reuters reported Sunday.
The Red Sea port of Yanbu has enough stored oil for only five to seven days of exports, three industry sources familiar with Saudi shipments told Reuters. Before Friday’s shutdown, the pipeline moved about 4 million barrels a day around the war-disrupted Strait of Hormuz.
The threat comes as North Texas truckers already face steep fuel bills. Diesel approached $6 a gallon at an Interstate 20 truck stop in Dallas on Labor Day, as The Dallas Express previously reported.
Repairs could take weeks
Drone attacks forced Saudi Arabia to close the pipeline. One source told Reuters repairs could take five to six weeks; another said crews could restore some flow sooner. Saudi officials had not released a full damage assessment or repair timetable when Reuters published its report.
Both Saudi Arabia and Iraq said the drones came from Iraqi territory, where Iran-backed militias operate, Reuters reported. No group immediately claimed responsibility for the pipeline attack.
President Donald Trump said Saturday that Iran was probably responsible. “I think they are, probably they are,” Trump told reporters in Dublin when asked about Iran’s involvement, Reuters reported. He also said he had spoken with Saudi Crown Prince Mohammed bin Salman.
An attack also struck an Iranian cargo vessel near Qeshm Island early Sunday, killing one person and injuring four, Iranian state media said, according to an AP report.
The United Kingdom Maritime Trade Operations monitor separately reported that a projectile hit a ship in the strait and started a fire. AP said it was unclear whether the two accounts described the same incident. Neither report established who carried out that strike.
Texas fuel costs
Texas oil production does not shield drivers from an overseas supply squeeze. U.S. refineries buy domestic and imported crude, and global prices affect local fuel markets, Dallas Fed researchers explained in a June analysis.
Higher oil prices can raise producers’ earnings while leaving families with less money after filling their tanks, the researchers wrote.
Diesel also powers most U.S. farm and construction equipment and the trucks and trains that carry consumer goods, according to the U.S. Energy Information Administration’s overview.
Provided by Dallas Express
