Saudi Arabia restarts East-West oil pipeline, sources say

Global oil benchmark Brent crude fell by more than $2 a ​barrel towards $97, its lowest since September 8.Drone attacks, which Saudi Arabia has blamed on an Iraqi ⁠militia, forced the kingdom to shut the pipeline on September 11, halting crude loadings at the kingdom's Yanbu port.Since the U.S.-Israeli war ​on Iran disrupted oil flows from Saudi Arabia and its Gulf neighbours through the Strait of Hormuz, Riyadh has been….

The pipeline has a capacity of 7m bpd.Reaching a rate of 40% of capacity will take ‌a ⁠couple of days and a full restart will take six to eight weeks, a security source said.

A separate oil industry source said a return to full pumping rates would take up to six weeks.Three pumping stations serving the pipeline were damaged in the drone attack, according to satellite imagery and industry sources.

The line is serviced by 11 ​pumping stations and two separate ​pressure relief stations, according ⁠to industry assessments.The pipeline will resume crude supply to Aramco refineries located on the Red Sea coast, one of the sources said, adding that one cargo was scheduled to load ​at Yanbu later on Tuesday.

The person said it would be bound for China.Traders ​were getting ⁠ready for Saudi oil loadings by moving tankers to Egypt's Mediterranean Port Said for ship-to-ship transfers and also to Sidi Kerir, another two trading sources said.Oil prices have also dropped this week after Iran said it could reopen the Strait of Hormuz ⁠within seven ​days and because Saudi Arabia has loaded more ships at its Ras ​Tanura port, raising….

Saudi Arabia restarts East-West oil pipeline, sources say Updated 6 minutes ago Saudi Arabia blamed Iraqi militia for drone attacks that forced a pipeline shutdown and halted Yanbu crude loadings.