Saudi Aramco has suspended crude oil deliveries to several European refiners following drone strikes on the East-West pipeline linking Saudi Arabia’s eastern oil fields to the Yanbu export terminal on the Red Sea coast. The pipeline, with a transport capacity of 5 to 7 million barrels per day, was shut down, pushing Brent crude to nearly $108 per barrel and European physical cargo prices to approximately $122 per barrel. At least three European refiners, including Poland’s Orlen which relies on Saudi Aramco for about 40% of its feedstock, have been notified of canceled or delayed September cargoes. Pipeline repairs are expected to take between three and six weeks, and this disruption occurs as Europe faces heightened vulnerability in its energy security following the shift away from Russian oil.
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