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Saudi adjusts oil barrel price
Reports indicated that oil prices experienced fluctuations during the week due to the resumption of Saudi Arabia's supplies via the East-West pipeline. The restart of the pipeline helped ease concerns over supply shortages, leading to a drop in Brent crude below $100 per barrel. Following new attacks on Saudi Arabia, prices rose again, with Brent reaching a peak of approximately $106.60, before settling at $104.32. This represents a weekly increase of less than 1%. The significance of the East-West pipeline, which transports around 4 million barrels per day and serves as an alternative route to bypass the Strait of Hormuz, is evident, as it directly influences global oil price fluctuations throughout the week.
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