Saudi Arabia Restarts East-West Pipeline Amid Global Oil Market Volatility

Saudi Arabia has restarted operations at its East-West Pipeline and is expected to resume oil exports from the Red Sea port of Yanbu later on Tuesday. The pipeline was shut down due to drone attacks on September 13, halting crude loadings at the kingdom's Yanbu port.

The resumption of supplies helped drive selling on global oil markets, with Brent crude futures falling by over $2 a barrel to their lowest since September 8.

In related news, Saudi Arabia has taken the lead in fundraising in the region, accounting for over 60% of all Middle East-based funds closed since 2015. The Kingdom's economic transformation programs, growing infrastructure investments, and advancing institutional capabilities are driving the expansion of its private capital market.