Saudi Arabia resumes Yanbu oil exports after drone-hit East-West pipeline restarts
Resumption of loading at Yanbu set to bolster crude exports from the Middle East
Oil prices stabilized around $105 a barrel on Tuesday as Saudi Arabia restored substantial exports through its East-West pipeline, alleviating supply concerns amid ongoing US-Iran tensions, according to the Arabian Post. Brent crude futures for November hovered near $105.50 per barrel, while US West Texas Intermediate settled at approximately $93 per barrel.
Traders weighed concerns about continued Middle Eastern disruptions against Saudi Arabia's resumption of crude exports and UAE's increased shipments. The East-West pipeline, which carries oil from eastern Saudi Arabia to the Red Sea port of Yanbu, bypasses the Strait of Hormuz, a critical chokepoint disrupted by Iran's drone attacks.
This pipeline restoration expands Saudi Arabia's export options, with a capacity of up to 7 million barrels daily. Despite the improvements in physical flows, geopolitical tensions and differing positions on sanctions and Iran's nuclear program prevent a complete removal of the market premium.
Written by urgent.news from Arabian Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Oil steadies as Saudi pipeline restores export route thearabianpost.com
