Saudi Arabia Restarts East-West Pipeline Amid Oil Market Volatility

Saudi Arabia has restarted operations at its East-West Pipeline and could resume exports from the Red Sea port of Yanbu later on Tuesday, according to three sources briefed on the matter.

The pipeline was damaged in a drone attack on September 11, which forced Saudi Arabia to shut it down. The attack, blamed by Riyadh on Iraqi militia, halted crude loadings at the kingdom's Yanbu port.

The resumption of supplies helped drive selling on global oil markets, with Brent crude falling by more than $2 a barrel towards $97, its lowest since September 8.