Saudi Pipeline Repairs Underway Amid Ongoing Security Threats

Saudi Arabia has initiated repairs on its East-West pipeline, which was damaged by drones launched from Iraq earlier this month. The goal is to resume substantial volumes by Saturday and restart exports later this week.

The kingdom had rerouted oil flows to the Persian Gulf after the shutdown, but a restart would allow Aramco to lift crude from Yanbu, a route it relied on during the Iran war when the Strait of Hormuz was heavily disrupted.

Oil prices have eased as supply worries cooled, with Brent falling towards $99 a barrel. However, traders say Aramco has informally told Asian refiners that they should soon be able to collect cargoes at Yanbu again.