Saudi Arabia Restarts East-West Pipeline After Drone Attack

โดย Reuters·SAEGUS·Read original
Summary · why it matters

Saudi Arabia has restarted its East-West Pipeline nine days after a drone attack damaged it, with Reuters reporting the kingdom may load crude at Yanbu on the Red Sea as early as Tuesday. The pipeline carries about 4 million barrels a day across Saudi Arabia to the Red Sea, roughly 4% of global consumption, and every barrel bypasses the Strait of Hormuz. Aramco is currently pumping at what Reuters sources called a low rate, and a security source said full restoration could take weeks. Brent crude dropped to its lowest price since September 8 on the news, while U.S. gas sits around $4.48 versus $3.18 a year ago and diesel is at a record $6.51 versus $3.70. Tankers are already steaming to Port Said and Sidi Kerir for ship-to-ship transfers.

Impact on assets 3

Artificial Intelligence▲ · 2 stocks
Others▼ · 1 stocks
⛏Brent Crude Oil Futures
BRENT
▼ NegativeSupplyrelevance

Restart of the 4 million b/d East-West Pipeline restores crude supply flows, pushing Brent to its lowest since September 8

Off-coverage companies 1

Saudi AramcoPrivate▲ Positive
Supplyrelevance

Aramco restarted its East-West Pipeline nine days after the drone attack, allowing crude loading at Yanbu again

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