Saudi Pipeline Expected Back Online Within Days After Attacks

US Energy Secretary Chris Wright told CNBC on Tuesday that Saudi Arabia's vital East-West Pipeline should be back online within days, following attacks by Iran-aligned groups.

The pipeline, which spans over 1,200 km across the Arabian Peninsula, had been moving around 4 million to 5 million barrels per day, accounting for 4% to 5% of global oil supply.

Saudi Arabia has been temporarily closing the pipeline due to attacks, and the US energy chief stated that it 'will be measured in days' before it's back up and running. However, sources told Reuters that the damage could take as long as five to six weeks to repair.