Saudi Arabia boosts Gulf crude exports after East-West pipeline attack, data show
AI Market Summary
Saudi Arabia increased Gulf crude loadings after the EastWest pipeline attack disrupted Red Sea exports, signaling a partial recovery in shipments. Higher observed flows through the Strait of Hormuz and a shift of exports toward eastern ports reduced immediate supply-disruption fears, weighing on oil. The news helped push Brent below $100 for the first time since Sept. 9, tightening the near-term risk premium.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT-0.40%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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Saudi Arabia increased crude exports from the Middle East Gulf after its East-West pipeline was attacked, with Saudi Aramco loading about 14 million barrels on Sunday. Since September 12, Gulf loadings have rebounded to an average of 3.7 million barrels per day, data show. The recovery helped push Brent below $100 a barrel for the first time since September 9, easing concerns about supply disruptions.
