Saudi East-West Oil Pipeline Set to Resume Operations Within Days
“This will be a brief and temporary interruption,” Wright said. “It will be measured in days.”
The pipeline was taken offline late last week after sustaining damage in a drone attack launched from Iraq. Wright attributed the strike to Iran-backed proxy groups.
Saudi Arabia relies on the pipeline to redirect part of its crude exports toward the Red Sea, providing an alternative route amid the ongoing US-Iran confrontation over control of the Strait of Hormuz.
With the pipeline still out of service, some Saudi oil shipments are being redirected through the Strait of Hormuz with assistance from US military forces, Wright said.
The disruption has also contributed to a rise in US crude prices, which have increased by more than 5% this week and moved above $105 a barrel as markets assess the potential impact of the pipeline shutdown on global oil supplies.
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