Saudi Oil Pipeline Shutdown Sparks Global Supply Concerns

A key Saudi oil pipeline has been shut down after an attack, and repairs are expected to take weeks. The disruption is adding pressure on Saudi Arabia's oil exports and raising concerns over global supplies.

The East-West Pipeline, which runs about 1,200 km across Saudi Arabia, carries crude from Gulf ports to Red Sea ports for export by tanker. It appeared to be carrying around 4 million barrels of oil a day, or approximately 4% of total global oil supplies, according to an earlier report.

The pipeline's shutdown has caused oil prices to rise by more than 2%, with Saudi Arabia, the world's biggest oil exporter, facing renewed strain in getting crude to market. The kingdom has relied increasingly on its East-West Pipeline after Iranian attacks disrupted shipping through the Strait of Hormuz.