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Oil slips as investors assess Saudi export recovery

Crude prices faced upward pressure on Tuesday following fresh attacks against Saudi Arabia and the ongoing shutdown of the kingdom's East-West pipeline. Previously, shipments through this pipeline to Red Sea ports helped ease prices by bypassing the Strait of Hormuz. However, the sustained pipeline closure compounds economic damage from regional conflicts. The International Monetary Fund projects overall Gulf economies will contract this year due to ongoing disruptions in the Hormuz corridor. Meanwhile, Saudi Arabia suffered a 3.8% Gross Domestic Product decline in the third quarter driven by a 20% drop in oil activity, even though non-oil sectors grew by 1.9% and oil exports remained near wartime highs.

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  • βœ“ Saudi Arabia's oil sector shrank by a fifth last quarter.
  • βœ“ The IMF sees Gulf economies contracting this year amid Hormuz disruptions.
πŸ›‘οΈ Source Corroboration: 54 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Oil prices reversed course to rise on Tuesday due to a renewed pipeline shutdown and attacks, contrasting with earlier reports of successful export rerouting.

Live updates

  1. Oil Prices Shift as Saudi Pipeline Outages and Attacks Continue

    Crude prices faced upward pressure on Tuesday following fresh attacks against Saudi Arabia and the ongoing shutdown of the kingdom's East-West pipeline. Previously, shipments through this pipeline to Red Sea ports helped ease prices by bypassing the Strait of Hormuz. However, the sustained pipeline closure compounds economic damage from regional conflicts. The International Monetary Fund projects overall Gulf economies will contract this year due to ongoing disruptions in the Hormuz corridor. Meanwhile, Saudi Arabia suffered a 3.8% Gross Domestic Product decline in the third quarter driven by a 20% drop in oil activity, even though non-oil sectors grew by 1.9% and oil exports remained near wartime highs.

    Why it matters

    The security situation around key Middle Eastern energy chokepoints dictates global crude supply stability. Intermittent regional attacks directly threaten infrastructure such as the East-West pipeline, forcing market volatility despite attempts by producers to reroute shipments. Continued disruption in the Strait of Hormuz exacerbates economic contraction across Gulf economies.

    What is confirmed

    • Saudi Arabia's oil sector shrank by a fifth last quarter.
    • The IMF sees Gulf economies contracting this year amid Hormuz disruptions.

    Still unconfirmed

    • Renewed attacks on Saudi Arabia and the continued shutdown of the kingdom's East-West pipeline pushed oil prices higher on Tuesday.

    What to watch next

    • Status updates on the reopening of the East-West pipeline.
    • Further International Monetary Fund economic projections for Gulf nations.
    • Reports on oil export volumes and shipping routes through the Strait of Hormuz and Red Sea ports.
    Sources used for this update (2)
    1. thearabianpost.com β€” Saudi pipeline outage lifts oil prices further β€” Arabian Post
    2. nationalsecurityjournal.org β€” Billions Lost: Saudi Arabia’s Oil Sector Shrank by a Fifth ...
    confidence 90%
  2. Oil slips as Saudi export recovery offsets Middle East tensions

    Oil prices have eased as Saudi Arabia accelerates crude shipments through an east-west pipeline to Red Sea ports, bypassing the Strait of Hormuz, amid ongoing regional attacks. Saudi GDP slid 3.8% in Q3 due to a 20% plunge in oil activity. Non-oil sectors grew 1.9%. The kingdom's oil exports have been near wartime highs despite security shocks.

    Why it matters

    The developments in Saudi Arabia's oil exports and GDP growth are significant as they reflect the impact of regional tensions on the global energy market. The Strait of Hormuz is a critical waterway for oil shipments, and disruptions to it can have substantial effects on global oil prices and supply. Saudi Arabia's efforts to stabilize exports through alternative routes are being closely watched.

    What is confirmed

    • Saudi Arabia is accelerating crude shipments across the kingdom to Red Sea ports to bypass the Strait of Hormuz.
    • Saudi GDP slid 3.8% in Q3 as oil activity plunged over 20%.
    • Non-oil sectors in Saudi Arabia grew 1.9% in Q3.
    • Oil prices fell over 2% as traders weighed the risks of further attacks on Saudi Arabia's energy infrastructure.

    Still unconfirmed

    • US Vice President JD Vance sought to revive peace negotiations with Iranian Security Council chief Mohsen Rezaei.

    What to watch next

    • Saudi Arabia's oil export levels
    • Developments in Middle East diplomacy
    • OPEC's response to changing market conditions
    Sources used for this update (6)
    1. saudipress.com β€” Saudi Arabia Pushes East-West Oil Pipeline Toward Full Capacity as ...
    2. www.gminsights.com β€” Feather Processing Equipment Market Size, Forecasts Report 2026-2035
    3. www.briefs.co β€” Saudi GDP Slides Again as Oil Activity Slumps and Security Shocks Pile Up
    4. www.home.saxo β€” Market Quick Take - UK Autumn Budget in focus - 28 October 2026 | Saxo UK
    5. www.tradingpedia.com β€” Crude Slips as Mideast Diplomacy Tempers Supply Jitters
    6. enterpriseam.com β€” Saudi GDP shrinks on the oil drag, even as non-oil economy ...
    confidence 85%
  3. Oil slips as investors assess Saudi export recovery

    Oil prices fell over 2% as traders weighed the risks of further attacks on Saudi Arabia's energy infrastructure against concerns that high crude prices could dampen demand. US crude oil prices dropped to $114. Saudi oil exports have been holding near wartime highs despite ongoing regional attacks.

    Why it matters

    The developments in Saudi Arabia have significant implications for global oil markets, as the country is one of the world's largest oil producers. Rising crude costs have also been impacting other markets, such as Indian stock indices. The situation remains uncertain, with threats to Saudi energy facilities persisting.

    What is confirmed

    • Oil prices fell more than 2% on Monday. US crude oil prices dropped to $114.
    • Saudi oil exports are holding near wartime highs despite ongoing regional attacks.

    What to watch next

    • Further attacks on Saudi Arabia's energy infrastructure
    • Upcoming monetary policy decisions
    • Changes in global oil demand
    Sources used for this update (4)
    1. english.aawsat.com β€” Latest World News
    2. www.kitco.com β€” Live Gold Prices | Gold News And Analysis | Mining News | KITCO
    3. mettisglobal.news β€” Oil slips to $114 as traders weigh Saudi supply risks
    4. www.investify.pk β€” Oil slips to $114 as traders weigh Saudi supply risks
    confidence 80%
  4. Oil Slips as Saudi Exports Hold Firm Amid Middle East Tension

    Crude oil prices remain elevated while precious metals retreat as markets weigh persistent Middle East energy supply uncertainty and upcoming monetary policy decisions. Spot gold fell below the $4,000.00 mark to trade near $3,994.60 an ounce, while spot silver dropped to $52.750. Indian stock indices felt the pressure as rising crude costs combined with stock-specific declines dragged the Sensex down by 353 points. Meanwhile, ship-tracking data indicates Saudi oil exports are holding near wartime highs despite ongoing regional attacks.

    Why it matters

    Market attention remains anchored on the United States Federal Reserve meeting and the trajectory of regional security in the Persian Gulf. Shipping bottlenecks and tanker strikes near the Strait of Hormuz continue to influence global delivery costs and commodity pricing. Inflation indicators show September consumer prices rose 0.6% on the month and 3.7% annually.

    What is confirmed

    • Spot gold was trading near $3,994.60 an ounce, down $21.60.
    • Spot silver was trading near $52.750, down $1.090.
    • September consumer prices increased 0.6% on the month and 3.7% annually.
    • Producer prices climbed 1.3% monthly and 6.3% annually.

    Still unconfirmed

    • Vortexa reports Saudi Arabia shipped 6.5 million barrels a day in October from west and east coasts, while Tankertrackers.com estimates overall exports at 6.99 million barrels a day and Kpler places the figure at 5.4 million a day.
    • The Indian Sensex declined 353 points, dragged down by Reliance, IT stocks, and rising crude oil prices.
    • Interest rate futures indicate the Federal Reserve is widely expected to leave its benchmark rate unchanged at 3.75% to 4.00%.
    • Renewed diplomatic efforts involving Iran helped ease some immediate fears of another major escalation.

    What to watch next

    • The official policy decision from the US Federal Reserve following its October 27-28 meeting.
    • Future ship-tracking data confirming whether Saudi export volumes stabilize or decline.
    • Developments regarding tanker security in the Strait of Hormuz.
    Sources used for this update (4)
    1. www.thehindubusinessline.com β€” Stock Market Today Highlights, October 28: Sensex declines 353 points dragged by Reliance, IT stocks, rising crude oil prices
    2. www.rigzone.com β€” Saudi Oil Exports Booming Despite Attacks
    3. www.catf.us β€” Flaring Accountability – Clean Air Task Force
    4. www.kitco.com β€” Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report | Kitco News
    confidence 90%
  5. Oil Prices Slip From Six-Month Highs Amid Recovery and Shipping Bottlenecks

    Crude oil prices fell on Monday from near six-month highs reached late last week. The drop occurred even as ongoing attacks on Saudi Arabia kept supply concerns elevated. Shipping bottlenecks in the Persian Gulf maintained high oil delivery costs in September despite normalizing exports, according to Citi. Meanwhile, Indian stock markets traded higher as investors watched high crude prices drive inflation worries and awaited the upcoming policy decision from the US Federal Reserve.

    Why it matters

    Oil markets face conflicting pressures from recovering Middle Eastern exports, shipping constraints, and persistent geopolitical tensions in energy-producing regions. These supply dynamics influence global commodity risk sentiment and feed into wider macroeconomic inflation concerns tracked by equity investors ahead of central bank meetings.

    What is confirmed

    • Oil fell on Monday after surging to near six-month highs late last week.
    • Ongoing attacks on Saudi Arabia kept supply concerns in focus.

    Still unconfirmed

    • Shipping bottlenecks in the Persian Gulf kept oil delivery costs elevated in September despite export normalization, according to Citi.
    • High crude oil prices fueled inflation concerns in the Indian stock market as investors awaited the US Federal Reserve's policy decision.

    What to watch next

    • The US Federal Reserve policy decision later this week.
    • Developments regarding Persian Gulf shipping bottlenecks and delivery costs.
    • Further updates on attacks against Saudi energy infrastructure.
    Sources used for this update (3)
    1. economictimes.indiatimes.com β€” Sensex Today | Nifty 50 | Stock Market Live Updates: Sensex gains over 200 pts, Nifty above 22,650; pharma gains
    2. www.cnbc.com β€” Oil slips from near six-months highs despite supply concerns
    3. www.gate.com β€” Citi: Gulf Crude Export Recovery Outpaced by Shipping ...
    confidence 80%
  6. Oil Slips as Saudi Export Recovery Evaluated

    Brent crude fell 0.3% to $109.55 per barrel as markets assessed an executive order from US President Donald Trump waiving certain sanctions and tariffs on Russian energy exports. The price decline extended downward pressure from Middle Eastern crude exports and a G7 emergency stockpile release. Meanwhile, energy prices surged amid persistent geopolitical tensions in oil-producing regions and Houthi attacks on Saudi energy infrastructure. Global commodity markets faced broad risk-off sentiment and position unwinding as energy risks intensified.

    Why it matters

    Energy price volatility continues to influence inflation worries and Federal Reserve monetary policy expectations while driving broader market shifts. The previous drop in oil prices followed actions by US President Donald Trump regarding Russian energy export sanctions. Markets remain sensitive to ongoing geopolitical conflicts and supply disruptions in major oil-producing regions.

    What is confirmed

    • Brent crude falls 0.3% to $109.55/barrel after Houthi attacks on Saudi energy.
    • Crude Oil rose to 95.16 USD/Bbl on September 28, 2026, up 2.97% from the previous day.

    Still unconfirmed

    • Trump's Russia sanctions waiver may lead to more fuel supplies and impact market pricing.

    What to watch next

    • Developments surrounding the execution of Trump's executive order on Russian energy sanctions
    • Further updates on Houthi attacks and Saudi energy export recovery
    • Changes in G7 emergency stockpile releases and Federal Reserve rate expectations
    Sources used for this update (10)
    1. www.cnbc.com β€” Crude Oil Prices Today and Oil Market News - CNBC
    2. worldoilmonitor.com β€” World Oil Monitor β€” Live Oil Prices, Futures & Energy Data
    3. oilprice.com β€” Crude Oil Prices Today | OilPrice.com
    4. en.wikipedia.org β€” Oil - Wikipedia
    5. oilprice.com β€” Oil News Today | OilPrice.com
    6. tradingeconomics.com β€” Crude Oil - Price - Chart - Historical Data - News
    7. help.naver.com β€” Futures Flat As Oil Rebounds After Trump's "Energy Ceasefire" Unravels, Memory Stocks Slide | ZeroHedge
    8. www.globalbankingandfinance.com β€” Oil tumbles as Trump's Russia sanctions waiver may lead to more f
    9. economictimes.indiatimes.com β€” Dow Jones| Nasdaq | S&P 500 | US Stock Market Today |Live Updates: Nasdaq surges 1% as SpaceX, AI stocks rise while Netflix slips
    10. www.home.saxo β€” Commodity weekly Crowded trades unwind as energy risks intensify | Saxo
    confidence 90%
  7. Oil Prices Ease as US Sanctions Waiver Weighs on Markets

    Oil prices dropped on Tuesday as investors evaluated an executive order from US President Donald Trump that waived certain sanctions and tariffs connected to Russian energy exports. The decline extended recent downward pressure from Middle Eastern crude exports and a G7 emergency stockpile release, even as elevated energy costs continued to fuel inflation worries and influenced the outlook for upcoming US monetary policy decisions. Meanwhile, European shares moved lower on Monday alongside elevated energy costs.

    Why it matters

    Oil benchmarks previously hovered above $100 a barrel despite initial supply cushions from Saudi export workarounds and pipeline adjustments. Regional stability remains precarious due to ongoing conflict and potential US military actions against Iran. The broader economic ripple effects now involve European stock weakness and shifting expectations for Federal Reserve policy as energy expenses persist.

    What is confirmed

    • Oil prices fell on Tuesday as markets weighed an executive order from US President Donald Trump that waived some sanctions and tariffs tied to Russian energy exports.
    • Gold prices edged lower on Tuesday, extending losses for a third session.
    • European shares were lower on Monday on elevated energy prices.

    Still unconfirmed

    • Iran-backed Houthi rebels captured the strategic islands of Greater and Lesser Hanish.
    • The Saudi oil pipeline hit in strikes will be mostly out of service for several weeks for repair.

    What to watch next

    • Decisions from the upcoming Federal Reserve meeting regarding monetary policy.
    • Market absorption of the US sanctions and tariffs waiver on Russian energy exports.
    • Further updates on regional security and the status of Saudi pipeline repairs.
    Sources used for this update (6)
    1. spectrumlocalnews.com β€” Saudi oil pipeline hit in strikes will be mostly out of service for several weeks for repair
    2. www.marketscreener.com β€” European Midday Briefing : Shares Lower as French Stocks Slip After Riots
    3. www.actionforex.com β€” AUD and CAD Outperform on Separate Catalysts as French Yields Eyeing 5%
    4. au.finance.yahoo.com β€” Gold dips as oil prices fuel inflation fears, Fed outlook in focus
    5. ca.finance.yahoo.com β€” Oil eases as markets assess potential waiver on Russian ...
    6. kosai.kr β€” KG Eco Solution (151860) Report β€” Holding Company Transition, Bio-Marine Fuel as New Bet | KOSAI
    confidence 90%
  8. Crude prices retreat as Saudi export workarounds ease supply fears

    Oil prices are trending downward as Middle Eastern crude exports and a G7 emergency stockpile release counteract regional security risks. Brent crude recently settled at $104.82 a barrel, down 0.95%, while US West Texas Intermediate finished at $101.91 a barrel. These declines follow a 3% retreat on Wednesday, though benchmarks remain above $100. While Saudi pipeline restoration and export workarounds have cushioned supply anxieties, prices remain volatile due to ongoing regional conflict and the prospect of renewed US military action against Iran.

    Why it matters

    Global energy markets are balancing the impact of Houthi and Saudi-Yemen attacks against strategic reserve releases. The stability of the Strait of Hormuz and Saudi Aramco's operational capacity are critical to preventing a sustained price surge.

    What is confirmed

    • Brent crude settled at $104.82 a barrel, a decrease of 0.95%.
    • US West Texas Intermediate crude finished at $101.91 a barrel, down 0.5%.
    • A G7 emergency stockpile release and resilient Middle Eastern exports have eased supply concerns.
    • Saudi Arabia has reduced oil shipments to major Asian buyers due to shipping constraints.

    Still unconfirmed

    • An attack on Saudi Aramco headquarters in Dhahran caused substantial damage and a multi-floor fire.
    • Renewed US military action against Iran is lifting oil prices.
    • A US-Russia diesel deal may balance supply risks from Saudi-Yemen attacks.

    What to watch next

    • OPEC meeting outcomes regarding production targets
    • Further updates on Saudi pipeline restoration progress
    • Confirmation of US military actions regarding Iran
    Sources used for this update (21)
    1. finance.yahoo.com β€” Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
    2. stocktwits.com β€” Stocktwits - Stock Market Live Quotes, Social Community...
    3. saudipress.com β€” Saudi Arabia Cuts Oil Shipments to Asia as Regional Conflict ...
    4. economictimes.indiatimes.com β€” Sensex Today | Nifty 50 | Stock Market Highlights: Sensex rallies 685 pts, Nifty ends above 22,750; RIL, HUL jump 3% each
    5. www.marketscreener.com β€” Oil Is Flowing From Hormuz Again--Just Not the Kind the World Needs Most -- Commodities Roundup
    6. www.briefs.co β€” Hungary Will Levy Wealth Tax Starting Jan. 1, 2027
    7. timesofindia.indiatimes.com β€” Stock Market Today Live Updates: BSE Sensex tumbles over 150 points, NSE Nifty50 trades below 22,600
    8. boereport.com β€” Oil slips as Mideast exports, G7 stockpile ease supply ...
    9. www.lgt.com β€” Oil climbs as escalation fears unsettle stocks | LGT
    10. www.gminsights.com β€” Silicone Additives Market Size, Statistics Report 2026-2035
    11. enterpriseam.com β€” UAE economy contracts in 2Q
    12. www.globalbankingandfinance.com β€” Oil falls as Russian diesel supply prospects counter Gulf supply
    confidence 85%
  9. Oil prices decline as G7 reserves and Gulf exports offset Houthi attacks

    Brent crude is trading around $102 and WTI is near $90.50 on Monday. Prices are slipping as a 100 million barrel G7 reserve release and increasing crude exports from the Middle East counteract the impact of Houthi attacks. These factors together have eased supply concerns that previously drove prices higher, leading to the current downward trend in both major crude benchmarks.

    Why it matters

    Saudi Arabia's export recovery has reduced the market's fear of supply shortages. The G7 intervention adds a coordinated effort to stabilize global energy costs.

    What is confirmed

    • Brent crude is trading around $102.
    • WTI crude is trading near $90.50.

    What to watch next

    • Further G7 reserve release announcements
    • Changes in Middle East export volumes
    • Updates on Houthi attack frequency
    Sources used for this update (3)
    1. economictimes.indiatimes.com β€” Indian Rupee
    2. investinglive.com β€” Oil slips toward $102 (brent) as G7 stock release and rising Gulf exports offset Houthi attacks
    3. www.gminsights.com β€” Plastic Compounding Market Size & Share Report 2026-2035
    confidence 90%
  10. Oil prices decline as Saudi export recovery eases supply concerns

    Crude prices have dropped as Saudi Arabia's oil exports recover, easing supply concerns. Brent crude fell to $101.80 a barrel and WTI crude declined 3.5% to $89.38 a barrel. The recovery of Saudi exports, which had been disrupted, has put downward pressure on oil prices.

    Why it matters

    The decline in oil prices comes after Saudi Arabia resumed oil flows through a key pipeline, increasing tanker traffic through the Strait of Hormuz. This development has alleviated concerns over potential shortages. Global oil markets have been closely monitoring supply disruptions in the Middle East.

    What is confirmed

    • Middle East crude oil exports have rebounded to 17.5M bbl/day on a 10-day average, or 98% of pre-war levels.
    • Brent crude dropped to $101.80 a barrel.
    • WTI crude fell 3.5% to $89.38 a barrel.

    Still unconfirmed

    • Plans to release U.S. emergency oil reserves have eased concerns over shortages.

    What to watch next

    • Future developments in Saudi Arabia's oil exports
    • Changes in global oil demand
    • U.S. emergency oil reserve release decisions
    Sources used for this update (3)
    1. www.energyconnects.com β€” Oil Holds Decline as Middle East Exports Seen Near Pre-War Level
    2. www.eghtesadonline.com β€” Oil Slips Through Hormuz Under the Radar as Saudi Pipeline ...
    3. seekingalpha.com β€” Middle East crude exports recover to near pre-war levels but oil products still lag, analysts say
    confidence 85%
  11. Oil slips as Saudi export recovery offsets supply concerns

    Crude prices fell as Saudi Arabia's oil exports recover, easing supply concerns. Brent crude dropped to $101.80 a barrel and WTI crude fell 3.5% to $89.38 a barrel. The recovery of Saudi exports, which had been disrupted, has put downward pressure on oil prices.

    Why it matters

    The recent decline in oil prices is attributed to the recovery of oil exports from Saudi Arabia, which had faced disruptions. This development has eased concerns about supply shortages. The global oil market has been closely monitoring supply and demand dynamics, particularly with regards to OPEC+ production strategies and evolving global demand patterns.

    What is confirmed

    • Brent crude dropped 2% to $101.80 a barrel.
    • WTI crude fell 3.5% to $89.38 a barrel.
    • Saudi Arabia's oil exports had fallen to record lows due to global supply shifts and OPEC+ production strategy changes.
    • Middle East crude exports are set to reach 16.33 million barrels a day in September.

    Still unconfirmed

    • US President Donald Trump suggested that following the elections, he might escalate military actions against Iran.

    What to watch next

    • US-Iran peace talks
    • OPEC+ production strategy updates
    • Global demand patterns for oil
    Sources used for this update (14)
    1. economictimes.indiatimes.com β€” Coronavirus impact on jobs
    2. finance.biggo.com β€” Oil Falls as Gulf Exports Recover, While Gold Rebounds
    3. saudipress.com β€” Saudi crude exports fall to record lows as global supply ...
    4. www.khaleejtimes.com β€” Oil falls as investors focus on Middle East supply
    5. marketinsider.net β€” Middle East Oil Exports Rebound as Saudi Shipments Surge
    6. investinglive.com β€” RECAP: Oil slides as Middle East exports recover and US moves ...
    7. www.rigzone.com β€” Oil Slides on Saudi Supply Relief - Rigzone
    8. www.al-monitor.com β€” Saudi stocks hit wartime low as Aramco slides, Gulf oil exports rebound
    9. www.thehindubusinessline.com β€” Stock Market Today Highlights: Stock markets fall for 3rd day; Nifty down 96 points, Sensex slips to 72,4....
    10. thearabianpost.com β€” Oil steadies as Saudi pipeline restores export route | Arabian Post
    11. www.zerohedge.com β€” US Futures, Treasuries Flat Ahead Of Core PCE, Micron Earnings | ZeroHedge
    12. economictimes.indiatimes.com β€” Oil prices barely changed as investors assess US-Iran peace talks and Gulf exports
    confidence 80%
  12. Oil Slips as Markets Assess Saudi Export Recovery

    Crude prices fell as investors weighed the recovery of Saudi exports following recent supply disruptions. Brent crude dropped two percent to one hundred one dollars and eighty cents a barrel. Concurrently, European benchmark gas declined three point seven percent to seventy-six point fifty-eight euros a megawatt-hour, while copper futures rose zero point six percent to fourteen thousand six hundred forty-six a metric ton. In the United States, diesel climbed to new highs above six dollars and fifty cents a gallon.

    Why it matters

    Houthi strikes on Saudi Arabia and key shipping lanes in the southern Red Sea have introduced severe volatility to energy markets. Saudi and Gulf stocks fell after the rebels claimed attacks targeting Riyadh and Saudi Aramco infrastructure. While initial fears of extended supply disruptions drove up oil prices, markets are now reassessing the situation as Saudi export recovery efforts progress alongside ongoing diplomatic efforts.

    What is confirmed

    • Brent crude oil dropped 2% to $101.80 a barrel.
    • European benchmark gas declined 3.7% to 76.58 euros a megawatt-hour.
    • Copper futures increased 0.6% to $14,646 a metric ton.
    • U.S. diesel climbed to new highs above $6.50 a gallon.
    • Houthi attacks targeted Saudi Aramco's East-West pipeline, prompting the state energy firm to increase exports.

    Still unconfirmed

    • Houthi rebels claimed responsibility for attacks on Riyadh.
    • Houthi rebels seized more key islands in the southern Red Sea to tighten their grip on shipping routes.

    What to watch next

    • Further updates on Saudi Aramco pipeline repair timelines and export volumes
    • Developments regarding Middle East supply risks and diplomatic talks
    • Additional Houthi movements in the southern Red Sea shipping lanes
    Sources used for this update (7)
    1. AP News β€” Yemen's Houthi rebels seize more key islands in southern Red Sea, tighten grip on shipping routes
    2. Reuters β€” Saudi, Gulf stocks fall after Houthis claim Riyadh attacks
    3. Reuters β€” Oil rises after Houthi attack on Saudi capital
    4. WSJ β€” Oil Declines as Concerns Over Extended Supply Disruptions Ease
    5. Bloomberg.com β€” Oil Steady as Traders Look to Mideast Supply Risks and Diplomacy
    6. www.marketscreener.com β€” U.S. Diesel Climbs New Highs Above $6.50 a Gallon -- Commodities Roundup
    7. www.straitstimes.com β€” Oil slips as investors assess Saudi export recovery
    confidence 100%
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