The global energy market is facing a new shock as analysts warn that gasoline and diesel prices could rise sharply in the coming days following damage to critical Saudi oil infrastructure and continued disruptions linked to the U.S.-led war with Iran.
The impact of the conflict is moving beyond a shipping crisis in the Strait of Hormuz and into a broader threat to global oil supplies. Damage to Saudi Arabia's East-West pipeline, a key alternative route for transporting crude oil around the Strait, has raised concerns that fuel markets could face prolonged pressure, even as Riyadh looks to resume partial pumping within days.
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