Houthi, Saudi Arabia
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Oil extends losses as Saudi Arabia reportedly offers ship-to-ship crude transfers after pipeline hit
Oil prices fell as additional Saudi crude supplies eased concerns over disruptions to the kingdom’s exports.
Estimates vary on how long it could take before a crucial pipeline is repaired, but a prolonged shutdown could push oil prices to their highest levels in months.
Al Jazeera on MSN
From Yanbu to Sohar: Tracking Saudi Arabia’s alternative oil routes
The world’s second-largest crude exporter is rerouting crude via dark shipments and ship-to-ship transfers off Oman.
Experts tell BBC Verify the pipeline's closure could cut oil supplies by as much as 3.6 million barrels per day.
Brent futures topped $109 per barrel after reports emerged that the key East-West pipeline could be shut for ‘weeks
The war with Iran has plunged the world into an energy crisis. That crisis could be aggravated by the closure of a Saudi Arabian oil pipeline after an attack.
Analysts warn oil prices could rally sharply if the pipeline remains offline beyond an estimated five-to-seven-day inventory cushion.
Oil prices declined on Wednesday following reports that Saudi Arabia was offering additional crude cargoes to Asian refiners through Oman, easing some concerns about the extent of supply disruptions in the Middle East.
Oil prices again were dictating the market on Wednesday, with optimism over a potential quick reopening of the Saudi's East-West pipeline boosting the mood on Wall Street. Brent and U.S. benchmark cru
Saudis yet to provide details about damage from drone attack to key east-west pipeline to Red Sea that could affect 4% of global oil supply
Bitcoin fell as oil hit $103 and the 10-year Treasury yield reached 5%. Here’s how the pipeline closure, inflation, and rates pressured BTC.