Brent Stays Elevated Even As Saudi Arabia's East-West Pipeline Resumes Oil Exports

Brent crude futures stayed elevated even as oil markets continued to assess improving Middle East supply flows and renewed geopolitical risks.

Brent crude futures, slated for November 2026 delivery, stood at $108.21 per barrel, up 3.74%. The contract traded between $105.06 and $108.83 during the session.

The move comes after Saudi Arabia resumed operations on its East-West oil pipeline, a key route that carries crude from the kingdom's eastern oilfields to the Red Sea port of Yanbu.

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The pipeline was shut after drone attacks damaged pumping infrastructure earlier this month.

The pipeline can move around 7 million barrels per day at full capacity, although flows initially resumed at a reduced rate. Reuters reported that restoring full capacity could take several weeks because three pumping stations were damaged.

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The restart helped ease concerns over Saudi Arabia's ability to move crude without relying heavily on the Strait of Hormuz.

Saudi Arabia had also increased shipments from its Gulf terminals after the pipeline disruption. Kpler data showed that Saudi crude exports were on track to reach around 5.4 million barrels per day in September, up from 2.5 million bpd in August

However, the broader oil market remains volatile. Brent prices rose sharply on Monday after US President Donald Trump rejected an Iranian proposal aimed at resolving the conflict and reopening the Strait of Hormuz. Reuters reported that Brent futures were up more than 3% earlier in the session.

The latest market data therefore shows Brent recovering after briefly trading below $100, with supply developments from Saudi Arabia and tensions around the Strait of Hormuz continuing to drive price movements. 

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