CAIRO — Saudi Arabia’s crown prince sought backing Tuesday from the president of Egypt, his ally across the Red Sea, as the kingdom faces increased attacks by Yemen’s Houthi rebels on Saudi shipping and infrastructure that have helped drive a surge in global oil prices.
\n\nSaudi Arabia has largely been on its own in confronting the Iranian-backed rebels, who rapidly captured more territory in Yemen over the past week and strengthened their ability to choke off Saudi oil exports out of the Red Sea.
\n\nThe vulnerability of the kingdom’s oil production was further underscored by an attack days ago that damaged its biggest pipeline. The strike was reportedly carried out by Iran’s allied militias in Iraq. It means the East-West Pipeline will be largely shut down for weeks as it is repaired, regional officials say, likely taking several million barrels of oil a day off the market.
\n\nThe Houthi offensive has opened up a new front in the Mideast’s war and boosted the hand of Iran, Saudi Arabia’s traditional archrival in the region, which has attacked shipping through the region’s other major maritime route, the Strait of Hormuz in the Persian Gulf.
\n\nCrown Prince Mohammed bin Salman met in Cairo…
Original source: https://www.nbcnews.com/business