Aramco Halts Crude Deliveries to Indian Refineries Amid Pipeline Attack

Saudi Aramco has suspended crude oil deliveries to Indian refineries due to an attack on its vital East-West pipeline, which spans over 1,200 km across the Arabian Peninsula. The pipeline was closed on Thursday following drone strikes by militias in Iraq supported by Iran.

This is not the first time Saudi Arabia's energy infrastructure has been targeted. In recent months, the country has faced multiple attacks on its oil facilities from Houthi militants based in Yemen along the western Red Sea coast.

Saudi Aramco provides approximately 9% of India's crude oil imports since the war started, and Indian refiners are currently not receiving their agreed-upon term supplies. The disruption is significant because Aramco typically provides crude oil to India and other clients via annual contracts at official selling prices.

Oil prices decreased on Friday, marking a third consecutive session of losses, as concerns over Saudi supply disruptions were alleviated by the possibility of an escalating conflict in West Asia. Brent crude futures declined by $1.65, or 1.6%, to trade at $103.17 a barrel.