Market brief · Economy & rates
US Energy Secretary: Saudi Pipeline Could Be Back in Service Within Days
Saudi Arabia’s East-West oil pipeline could be back in service within days, U.S. Energy Secretary Chris Wright said Tuesday, offering the first relatively concrete timeline for restoring a route that had been moving 4 million to 5 million barrels per day around the largely closed Strait of Hormuz. The 1,200-kilometer pipeline was shut after an attack last week damaged the system. Wright said Saudi officials were still assessing the damage, but expected repairs to be measured in days rather than weeks. The East-West line has been carrying…
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