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Worry about oil: Prices rise a lot

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In Saudi Arabia there is trouble with oil. Unknown people attack an important oil pipe. The attackers use small flying things. These are drones. The pipe brings oil from the Gulf to the sea. The pipe is now broken. Experts say repair takes a long time.

At the same time there is fight at the sea. A milice controls important ship ways now. This is a narrow sea part. Many ships with goods for the world pass there. The milice threatens ships from Saudi Arabia. If ships take another way it takes 2 weeks more. This makes all things costly.

At the gas stations in Germany people see this fast. The price for diesel goes up high on Saturday. One liter costs 20 cents more. Experts warn about high inflation. If the oil stays costly the food prices rise too. But there is enough oil for all.

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Definitions

Inflation
Inflation means money loses value. You buy less for the same money. Everything becomes costly.
Miliz
A milice is a group of armed fighters. They do not belong to the official army of a state.
Pipeline
A pipe is a long tube. Gas or liquid like oil moves through it over long ways.

People

Donald Trump
Donald Trump is the president of the United States of America. He belongs to the Republican party.
Carsten Brzeski
Carsten Brzeski is an important business expert at the bank ING. He watches prices and economy.

Locations

Saudi-Arabien
A country in the Middle East. It is one of the biggest sellers of crude oil in the whole world.
Bab al-Mandab
A narrow place in the sea between Yemen and Africa. It is very important for worldwide trade with ships.

Sources

Logo VOL
VOL

Drohnenangriffe setzen saudische Ölexporte massiv unter Druck

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Logo The Guardian
The Guardian

Saudi Arabia shuts down key oil pipeline, blaming drones from Iraq

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Logo Standard
Standard

Nach Angriffen auf Saudi-Pipeline und Huthi-Vormasch droht weiterer Ölpreis-Anstieg

Read now
Logo Bild
Bild

Diesel 20 Cent teurer: Nach Huthi-Terror! Spritpreis knallt rauf

Read now
Logo Bild
Bild

Ölpreis-Schock: Ruinieren diese Huthis jetzt unsere Weltwirtschaft?

Read now

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