Saudi Arabia Restores Energy Infrastructure Amid Diplomatic Efforts
Saudi Arabia is making rapid progress in restoring its energy infrastructure after recent attacks on its facilities. The kingdom aims to recover around half of the East-West pipeline's capacity within days, with a full return to operations expected within six weeks.
To maintain supply during this period, Saudi Arabia is rerouting some of its crude exports through the Strait of Hormuz using shuttle vessels and tankers waiting outside.
China has reportedly urged Iran to help restrain Houthi militants following an appeal from Riyadh, responding to the rebel group's intensified attacks on Saudi energy facilities. Meanwhile, US President Donald Trump stated he is evaluating whether to resume military attacks on Iran ahead of a meeting with Gulf leaders in New York.
The bond market appears to have received some relief from lower oil prices, which dipped after reports that the US plans to resume negotiations with Gulf States next week.