Aramco halts European crude flows after Red Sea pipeline attack

1 min read
Source: Yahoo Finance
Aramco halts European crude flows after Red Sea pipeline attack
Photo: Yahoo Finance
TL;DR Summary

Saudi Aramco has told at least two European refiners that no crude will be delivered next month following an attack on the East-West pipeline to the Red Sea, halting October deliveries under term contracts. The 1,200-km line previously carried about 4–5 million barrels per day, roughly 4–5% of global supply, and restart timelines suggest a partial revival within days and full restoration in about six weeks; OECD Europe imported around 577,000 bpd from Saudi as of June.

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