Saudi Oil Pipeline Nears Restart After Drone Attack

A major oil pipeline in Saudi Arabia is expected to resume operations within days after being shut down due to a drone attack by Iran-backed militias. The pipeline, operated by Saudi Aramco, was damaged in the attack and has been out of commission since earlier this month.

The attack caused significant damage to the 1,200km pipeline, which runs from the Abqaiq oilfield to the Yanbu port on the Red Sea. Satellite images showed extensive damage to a pumping station along the route.

The closure has affected up to 4% of the global oil supply, leading to a surge in oil prices and global inflation. Brent crude has reached over $109 per barrel as tensions in the region continue to rise.