U.S. Energy Minister expects pipeline oil flows to restart soon

U.S. Energy Secretary Chris Wright reported that the Saudi East-West oil pipeline, which was temporarily closed due to Iran-related attacks, is expected to resume operation within a few days. Saudi Arabia is taking steps to transfer additional oil through the Strait of Hormuz with the assistance of the U.S. military, and estimates vary regarding the duration of repairs—ranging from 5 to 6 weeks or potentially sooner—to allow partial resumption of pumping during the repairs. The pipeline spans 1,200 kilometers, crossing the eastern region of Saudi Arabia, and had been providing 4 to 5 million barrels per day, accounting for 4 to 5% of global oil supplies, since the Strait of Hormuz was closed due to Iranian escalation.

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