Earlier today Iran’s Press T.V. was reporting that an oil pipeline did in fact explode in Saudi Arabia today, “…an explosion has hit oil pipelines in the flashpoint Saudi Arabian city of Awwamiya,”.
Now about 1 hour ago from me typing this, Bloomberg reports, Saudi officials are denying that is the case. But Saudi sources are confirming there was a fire in an industrial district of Safwa, near Ras Tanura, Saudi Arabia’s largest refinery.
Sources are also saying it is just a rumor to shake up the oil futures market. I will be watching this story for updates.