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 Tra

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 Centre says security in the Strait remains precarious; another tanker was attacked on Sunday, causing a major fire.