Asian trade: WTI and Brent rose more than 3% after drones launched from Iraq
struck Saudi Arabia’s East–West oil pipeline last Thursday, forcing Riyadh to
shut the artery. Saudi authorities have not disclosed damage or the expected
outage duration. The pipeline can carry about 7.0 mln bpd and is a key buffer
against wider Middle East supply disruptions. A planned meeting in Oman between
Iran and Gulf states on Strait of Hormuz security was abruptly postponed after
the attack. The UK Maritime Trade Operations Center says security in the Strait
remains precarious; another tanker was attacked on Sunday, causing a major fire.
