Trump Blames Iran for Attack on Saudi East‑West Pipeline
US President Donald Trump said Iran is likely behind the aerial strike that halted Saudi Arabia’s East‑West crude pipeline, a key route that bypasses the Strait of Hormuz.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Positive · Buy bias
Oil & Gas sector likely to benefit from higher crude prices – Buy bias on related tickers.
Sectors & Direction
Desk read
Desk call: Buy bias · Positively affected
- Oil & GasPositively affected
Companies
Companies Mentioned
- OGDC· Positively affected · Buy bias
Mentions in This Briefing
Sectors: Oil & Gas — Positive · Buy bias. PSX tickers: OGDC. Oil & Gas sector likely to benefit from higher crude prices – Buy bias on related tickers.
Full Story
Open on Business Recorder## Background
On Saturday, President Donald Trump told reporters in Dublin that Iran was probably responsible for an aerial attack on Saudi Arabia’s East‑West pipeline. The pipeline is a major conduit for Saudi crude exports that avoids the Strait of Hormuz, and its shutdown temporarily disrupted the flow of oil.
## Statements from the President
Trump said, “I think they are, probably they are,” when asked about Iran’s involvement. He also mentioned a recent conversation with Saudi Crown Prince Mohammed bin Salman, describing the Crown Prince as a “good friend.”
## Regional Dynamics
The President noted that Yemen’s Houthi rebels had contacted his administration, indicating they did not want the United States to become directly involved in the conflict. He added that the Houthis prefer to keep most shipping lanes open, except for one country that they are “not too happy with,” implying Iran.
## Market Implications
The incident raises concerns over supply disruptions in the Gulf, which could tighten global oil markets and support higher crude prices. For Pakistan, higher oil prices can affect the cost of imported fuel and have a knock‑on effect on inflation and the broader economy.
## Outlook
Analysts will watch for any further developments in the region, including possible retaliatory actions or diplomatic efforts to restore the pipeline’s operation. The situation remains fluid, and market participants should stay alert to any escalation that could impact oil supply and pricing.