Saudi Export Pivot Sends Brent Below $105
Saudi Aramco shifts crude exports to the Persian Gulf, easing supply fears and pushing Brent below $105. Friday, September 18, 2026 Last week’s market panic about the 7 million b/d East-West pipeline remaining offline for weeks gave way to a slightly more nuanced outlook this week, with Saudi Aramco re-orienting all its loadings to the Persian Gulf. Whilst flows from Ras Tanura still carry the…
Saudi Aramco is shifting its crude exports to the Persian Gulf, alleviating supply concerns and prompting Brent crude to dip below $105 per barrel. Last week's market turmoil over the East-West pipeline remaining offline for weeks gradually gave way to a more measured outlook as Saudi Aramco redirected all its shipments to Asian buyers instead of European ones.
The move has eased market tensions, sending ICE Brent below $105 per barrel, slightly below its previous settlement price. Despite potential risks from Iranian drone strikes in the Strait, Saudi Arabia is confident in restoring flows through its damaged 7 million b/d East-West pipeline within days, aiming to lessen the pressure on Gulf loadings.
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