Oil pipelines in the Gulf region have become a conspicuous strategic target in the growing confrontation between Iran on the one side and the United States, Saudi Arabia, the Emirates and even Israel on the other.

Two pumping stations on Saudi Arabia's main cross country pipeline were attacked last week along with four empty (thankfully) oil tankers near United Arab Emirates' waters. The Houthis, a central party in the four year ongoing conflict in Yemen and a bitter enemy of the Saudis, claimed responsibility.

Official Saudi sources blamed Iran for the attacks and the region remains tense and on tenterhooks, abetted by US President's Donald Trump remarks that Iran would be eliminated if it persists in what the United States perceives as hostile behavior.

While Saudi's pipeline has reopened, officials from all sides are warning that a string of recent events have pushed the region closer to a potentially devastating conflict. The aforementioned attacks highlight regional tensions in the Persian Gulf as relations between the U.S. and Iran also deteriorate. That's put a damper on any demand concerns related to the intensifying trade war between the U.S. and China.