Saudi Pipeline Attack Lifts Oil Prices as ADNOC Buys Iraqi Crude

Oil prices rose after a drone attack damaged a Saudi oil pipeline, with repairs expected to take weeks. Traders are assessing the lost Saudi volumes, while ADNOC Trading has bought millions of barrels of Iraqi crude at a $25 per barrel discount. The disruption coincides with rising risks in the Red Sea. The incident highlights ongoing vulnerabilities in Middle East energy infrastructure.