Saudi crude supplies to Pakistan resume across the Red Sea

Saudi petroleum exports to Pakistan via the Red Sea reopened after drone attacks stopped a crucial pipeline, alleviating scarcity concerns as regional violence affects the country’s primary Middle Eastern supply sources, officials said on Tuesday.

Saudi Arabia resumed the operation of its East-West Pipeline that transports crude from oilfields in the Kingdom’s east to the Red Sea port of Yanbu, after it was interrupted on Sept 13 due to attacks that also suspended loadings at the export terminal.

The route helps Saudi crude avoid the Strait of Hormuz, where commerce had been severely affected since the war involving the United States, Israel and Iran broke out in February. TANKERS FROM YANBU TO PAKISTAN SAILING SOUTH THROUGH THE RED SEA AND THE BAB AL-MANDAB STRAIT TO THE ARABIAN SEA.

Reuters reported Tuesday that the East-West Pipeline had resumed at a slower rate and work was ongoing to get flows back up to their pre-war level of about 4 million barrels a day, or four percent of the world’s oil supply.

The restart helped send benchmark Brent crude down more than $2 to about $98 a barrel Tuesday, its lowest level in two weeks, while prices remain high on continuing disruption across the Middle East.