Saudi Pipeline Attack Sends Brent Crude Prices Above $107

Saudi Arabia's East-West pipeline has been shut down after drone strikes damaged pumping stations in the Riyadh and Medina regions. The pipeline, which transports around four to five million barrels of crude daily from eastern oilfields to the Red Sea, is a critical infrastructure for Saudi oil exports.

The attacks have disrupted international markets, with Brent crude prices rising by over 3% to approximately $107 per barrel on Tuesday. At least three European refiners are facing cancelled or postponed crude cargoes scheduled for late September, with delivery delays extending until November.

Restoring the pipeline to full capacity may take up to five weeks, although partial operations could resume earlier. U.S. Energy Secretary Chris Wright stated that the interruption was expected to last only a matter of days, with initial restoration likely to be partial rather than complete.