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Brent crude up 3.2% as Saudi East-West Pipeline closes after drone strike
Seven million barrels per day of export capacity offline; WTI gains 3.3% to $103 per barrel.
Brent crude rises 3.2% as Saudi pipeline closes#
Brent crude rose 3.2 percent to $108 per barrel in early trading on Monday, while West Texas Intermediate gained 3.3 percent to $103. The increase followed the temporary closure of Saudi Arabia's East-West Pipeline, which transports approximately 7 million barrels per day of crude for export via Red Sea ports. The Saudi Oil Ministry announced the closure on Friday after drones launched from Iraq damaged the 1,200 kilometre line in eight separate locations. The ministry has not stated when operations will resume.
Pipeline damage visible in satellite imagery#
The strikes sent black smoke into the air, visible in satellite images published by Vantor and Reuters. The East-West Pipeline is a critical oil artery for Saudi exports. The attack occurred as Houthi militia advances in Yemen tightened control over the Bab al-Mandab Strait. The group has stated its campaign aims to disrupt Saudi oil exports. Houthi forces also targeted mainland Saudi Arabia over the weekend, including cities with oil facilities.
Iran-Gulf talks postponed, Hormuz shipping disrupted#
Diplomatic talks scheduled for Monday in Oman between Iran and Arab Gulf states were postponed, Omani foreign minister Badr Albusaidi announced late Sunday. The talks were intended to establish a temporary shipping lane through the Strait of Hormuz, which remains effectively closed by Iranian forces. No official reason was given for the postponement, though Bahrain had previously withdrawn, citing recent attacks on Saudi oil infrastructure. The United Kingdom Maritime Trade Operations reported a ship hit by projectiles in the Strait of Hormuz over the weekend.
Asian demand rises as physical markets tighten#
Physical oil markets have faced increased pressure in recent weeks as demand from Asian markets has grown. China's oil imports rose 6 percent month-on-month in August, according to London-based commodities consultancy ICIS, though imports remain below last year's levels. China is the world's largest oil importer.
Sources2 sources across 2 domains
- investing.comInvesting.comOil price movements and Middle East disruption context
- agbi.comAGBIBrent and WTI prices, East-West Pipeline closure details, drone strike locations, Iran-Gulf talks postponement, Hormuz shipping incidents, China import figures
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MENA Trade Monitor is published by Arabian Media Network. Pieces are produced by the Chokepoint Watch with AI-assisted synthesis of the cited sources and automated verification against the network's editorial policy. Every piece carries a desk rather than a reporter. Corrections are recorded on the piece and on the corrections page.
Transits, closures, advisories, war risk premia and rerouting cost for Hormuz, Bab el-Mandeb and Suez. Same day, same shape, always numbers.