Commodities
Saudi Arabia Restores East-West Pipeline After Drone Strikes
Saudi Arabia has resumed oil exports through its East-West Pipeline after completing repairs following drone strikes on September 10.
The pipeline, which has a capacity of 7 million barrels per day, was tested by Saudi Aramco last week in preparation for restarting flows.
About 2 million barrels per day typically flow to refineries on Saudi Arabia's west coast, leaving the remaining capacity available for exports. This route became a vital supply route during the war with Iran, helping limit sharp increases in global oil prices.
Oil prices traded above $107 a barrel on Monday as the United States and Iran remained divided over reaching an agreement that could end the conflict in the Middle East.