US EditionOil Prices Climb Toward $100 as Iran Ceasefire Doubts Deepen
Saudi state media said attacks on energy facilities cut pipeline throughput by 700,000 barrels per day and reduced production capacity by 600,000 bpd.
- On Thursday, Saudi Arabia reported that recent Iranian attacks on energy infrastructure killed one person and slashed the kingdom's oil production capacity by 600,000 barrels per day, while cutting East-West Pipeline throughput by 700,000 barrels per day.
- The kingdom relies on the 1,200km East-West Pipeline as its primary crude export route, serving as a critical economic lifeline while Iranian forces blockade the Strait of Hormuz, restricting nearly 20% of global oil supplies.
- Attacks targeted critical sites including the Manifa and Khurais oilfields, alongside major refineries like SATORP in Jubail and Ras Tanura, damaging processing infrastructure across the Eastern Province and Yanbu Industrial City.
- Benchmark Brent crude futures rose 1.2% to US$95.92 a barrel in Thursday's post-settlement trade, as the Saudi Press Agency warned that disruptions depleted emergency inventories, limiting the ability to offset supply shortfalls.
- Although the United States agreed to a two-week ceasefire with Iran on Tuesday, Reuters reported that the pipeline attack occurred just hours later, as the blockade continues restricting nearly 20% of global oil supplies.
23 Articles
23 Articles
Oil prices reduced yesterday's morning profits, following the spread of talks between Israel and Lebanon, as well as between the United States and Iran.
Malay Mail
AlKhaleej TodaySaudi oil output slashed 600,000 bpd as pipeline strikes hit key facilities
CAIRO, April 10 — Attacks on Saudi energy facilities have cut the kingdom’s oil production capacity by around 600,000 barrels per day and throughput on its East-West Pipeline by about 700,000 bpd, Saudi state news agency SPA reported on Thursday, citing an official source at the Ministry of Energy.The ministry source did not specify who launched the attacks, but Saudi Arabia has intercepted many Iranian missiles and drones in recent weeks. The l…
Channel News Asia
Saudi Arabia says Iran attacks have affected oil production
A Saudi official confirmed that one of the pumping stations on a vital east-west pipeline was hit, resulting in a reduction of 700,000 barrels per day in pumping capacity.
Saudi says Iranian attacks slash its oil output by 600K bbl/day, pipeline flows by 700K bbl/day
Missile and drone attacks on Saudi energy facilities have cut the kingdom's oil production capacity by ~600K bbl/day and throughput on its East-West pipeline to the Red Sea by ~700K bbl/day
Oil Prices Climb Toward $100 as Iran Ceasefire Doubts Deepen
Oil prices were climbing back toward the $100 mark in early Asian trade on Friday as traders weighed fresh attacks across the region and doubts over whether the already-fragile Iran ceasefire will hold. At the time of writing, WTI was trading at $99.17, up 1.33%, while Brent had climbed 0.92% to $96.80. On the supply side, Saudi Arabia’s energy ministry has confirmed that recent attacks on the Kingdom have cut its oil production capacity by roug…
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