Commodities
Yanbu Oil Loadings Restart After Drone Attacks Halt
Saudi Arabia has resumed oil loadings from its Red Sea port of Yanbu after restarting operations on the East-West Pipeline. The pipeline was shut down on September 11 due to drone attacks, which Saudi Arabia blamed on Iraqi militias.
The resumption of loading at Yanbu is set to bolster crude exports from the Middle East, where the US war with Iran has throttled shipments through the Strait of Hormuz.
Kpler estimates current throughput on the pipeline at around 2.65 million barrels per day and expects it to climb to between three million and four million bpd in the coming days.