Special to WorldTribune.com

LONDON — The global oil market was shocked by reports of a bombing
of Saudi Arabia’s main oil pipeline.

The March 1 report by the Saudi opposition and the Iranian media of the
bombing of the Abqaiq-Ras Tanura pipeline sparked the greatest rise in the
price of crude oil since 2008. The market appeared to ignore a denial of the
bombing by an anonymous Saudi official.

“There are certain parties who are upset with Saudi Arabia’s role in the current situation,” the official, referring to Iran, said.

The report of an explosion at the Saudi pipeline was circulated by the Saudi opposition as well as Iran’s state-run PressTV. Photographs of a burning pipeline were released on Facebook and other media.

“There were no acts of sabotage in the kingdom yesterday,” Saudi
Interior Ministry spokesman Maj. Gen. Mansour Al Turki said on March 2.

The bombing came in wake of several Iranian warnings to Riyad not to increase crude oil production. Saudi Arabia, producing 9.7 million barrels per day, has sought to compensate for a Western boycott of Iranian oil as
part of sanctions to stop Teheran’s nuclear weapons program.

The Institute for Gulf Affairs, based in Washington, said it was unclear
whether the explosion in the Saudi province of Qatif was an attack or
accident. Saudi security forces and Shi’ite gunmen have clashed several
times in Qatif over the last six months. Saudi officials said the Shi’ites
were being financed by Iran.

  Abqaiq-Ras Tanura pipeline, Institute for Gulf Affairs, Iran sanctions, Maj. Gen. Mansour Al Turki, Reports of Saudi pipeline bombing rocks global oil market, Western boycott of Iranian oil