Oil Jumps on Saudi Pipeline Shutdown

2026-09-13 23:10 By Anna Fedec 1 min. read

Crude oil rose toward $103 a barrel, a 4-month high, after rallying over 9% last week, as Saudi Arabia shut a major crude pipeline following drone attacks, disrupting a key route used to bypass the Strait of Hormuz.

Saudi Arabia suspended operations on the East-West pipeline as a precaution after Thursday’s attacks, with no indication yet of when the pipeline will resume operations.

Meanwhile, talks between Iran and several Gulf nations on establishing a temporary shipping corridor through Hormuz were postponed, Oman’s Foreign Minister Badr Albusaidi said.

Reports suggested Saudi Arabia had concerns over the proposal, while Bahrain said it would not participate.

The closure of the East-West pipeline has highlighted its importance in maintaining energy flows across the Middle East as the US and Iran remained at an impasse over control of Hormuz.

The pipeline transports oil across Saudi Arabia to Red Sea ports and has a capacity of around 7 million barrels per day.



News Stream
Oil Jumps on Saudi Pipeline Shutdown
Crude oil rose toward $103 a barrel, a 4-month high, after rallying over 9% last week, as Saudi Arabia shut a major crude pipeline following drone attacks, disrupting a key route used to bypass the Strait of Hormuz. Saudi Arabia suspended operations on the East-West pipeline as a precaution after Thursday’s attacks, with no indication yet of when the pipeline will resume operations. Meanwhile, talks between Iran and several Gulf nations on establishing a temporary shipping corridor through Hormuz were postponed, Oman’s Foreign Minister Badr Albusaidi said. Reports suggested Saudi Arabia had concerns over the proposal, while Bahrain said it would not participate. The closure of the East-West pipeline has highlighted its importance in maintaining energy flows across the Middle East as the US and Iran remained at an impasse over control of Hormuz. The pipeline transports oil across Saudi Arabia to Red Sea ports and has a capacity of around 7 million barrels per day.
2026-09-13
Oil Rally Pauses on Mideast Diplomatic Efforts
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