BREAKING: Saudi Arabia’s East-West oil pipeline carrying 7 million barrels per day of crude oil from the Gulf to the Red Sea has been attacked, per FT. Details include: 1. The pipeline was reportedly struck by a drone and damage is being assessed 2. The attack on vital infrastructure comes hours after Iran and the US agreed a ceasefire deal on Tuesday evening 3. Prior to the ceasefire deal, Iran threatened to target the east-west pipeline if the US struck Iranian power plants Oil prices are still trading lower, down -18% today.(The Kobeissi Letter)