Saudi oil pipeline outage due to attack and delayed negotiations push crude oil up over 3% in early Asian trading

Bitget

News

智通财经2026/09/13 22:36

Show original

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

During the Asian early trading session, WTI crude oil once surged over 3% to $103.44 per barrel, as market sentiment was hit by both the shutdown of a key Saudi oil transport route and the deteriorating regional security situation.
Last Thursday, drones launched from Iraq attacked the Saudi east-west oil pipeline, forcing the Saudi government to shut down this vital crude oil artery. Riyadh has not yet disclosed the extent of damage to the pipeline or the expected duration of the outage.
A diplomatic meeting between Iran and the Gulf Arab states, originally scheduled for Monday in Oman, was suddenly postponed after the pipeline attack. The meeting was originally intended to discuss the situation in the Strait of Hormuz and provisional shipping arrangements.
This Saudi pipeline has a daily transport capacity of 7 million barrels and has played a key role in mitigating the severe oil supply disruptions caused by Middle East conflicts. Its shutdown has further heightened market concerns about tightening supply.
The UK Maritime Trade Operations Centre stated that security in the Strait of Hormuz remains extremely precarious. Another oil tanker was attacked on Sunday, causing a major fire onboard.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

Saudi oil pipeline outage due to attack and delayed negotiations push crude oil up over 3% in early Asian trading

You may also like

Crypto prices