Drone strike damages key Saudi oil pipeline
A drone attack damaged Saudi Arabia’s east-west pipeline to the Red Sea, a route oil buyers and traders say could affect up to 4% of global supply if it is not restarted within days.
Satellite images released Sunday appeared to show a charred pumping station on the 1,200-kilometer line after the Friday strike. Saudi authorities have not given full details on the extent of the damage or how long the pipeline will remain offline.
The shutdown adds pressure to an already tight oil market. Brent crude rose more than 3.4% to $108 a barrel on Sunday. Two officials speaking anonymously said the pipeline could be mostly out of service for weeks, while other estimates cited in circulation ranged from a quicker partial restart to repairs taking as long as six weeks.
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