Oil prices surged following reports of an attack and shutdown of the Saudi East-West oil pipeline, then retreated after Bloomberg reported normal operations.
Saudi Arabia's East-West Pipeline was attacked again on October 4 at a pumping station in the Khurais region, east of Riyadh, suffering severe damage and halting operations, with the attack expanding to previously unaffected areas, according to AFP, citing Saudi energy industry sources. Following this news, Brent crude oil surged briefly into positive territory. Subsequently, Bloomberg reported, citing sources familiar with the matter, that the Saudi East-West Pipeline is currently operating normally with oil flowing continuously, causing both WTI and Brent crude to drop by over $1. The pipeline has a daily capacity of approximately 5 million barrels and is a strategic infrastructure for Saudi Arabia to bypass the Strait of Hormuz.
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