East-West Pipeline Restarts After Repairs

Saudi Arabia has resumed oil exports via the East-West pipeline after repairs. The pipeline is operating at a throughput rate of approximately 3.5 million barrels per day (BPD).

The line's significance extends beyond its volumetric capacity, serving as a strategic route for Saudi crude to reach Red Sea loadings when Gulf transit is impaired.

This development caps the upside in scenarios premised on Hormuz or eastern infrastructure risk. A distinction is being drawn between this repair and a damage event that recurs, which has previously repriced freight, insurance, and the Brent-Dubai spread.