Oil stays above $100 as Saudi Arabia uses Oman route to boost crude supplies

Oil prices remain above $100 due to supply concerns. Saudi Arabia's state-run oil company, Aramco, has faced disruptions to its East-West pipeline, which has a capacity of 7 million barrels per day but was operating at 4-5 million barrels per day. The pipeline was damaged by alleged Houthi drone attacks, according to Live Mint.

Aramco has been working to bypass the damaged section to regain partial capacity, as reported by Al-Monitor. To mitigate the impact, Saudi Arabia has been offering more crude to Asian refiners through ship-to-ship transfers off Oman, Arabian Business reports.

The disruptions have had a ripple effect on global oil supplies, with Indian refiners facing reduced crude supplies from Aramco. According to Live Mint, Aramco has stopped all supplies to India through the Red Sea and the Strait of Hormuz, although it has sold some spot cargoes to traders for delivery through Hormuz. Nigerian crude has also seen increased interest from European refining hubs due to Saudi Arabia's oil supply troubles, BusinessDay Nigeria reports.

Brief written by urgent.news from Arabian Business, Semafor, Al-Monitor, Live Mint, BusinessDay Nigeria — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.