The Guardian: Saudi oil export stocks could run out in days if East-West pipeline isn't restored

The Guardian reported that "Saudi Arabia's oil stocks designated for export could run out within days if a major damaged pipeline (East-West) is not restored, potentially causing a loss of up to 4% of global supplies, according to buyers and traders of Saudi oil.

Satellite images showed what appeared to be a pumping station on Saudi Arabia's main east-to-west pipeline, stretching 1,200 kilometers (745 miles), which suffered severe burning and damage from drone attacks on Friday.

Any further decline in oil flow from Saudi Arabia, the world's largest oil exporter, could intensify the global supply crisis, already pushing fuel prices worldwide to record highs and fueling inflation across the globe, the newspaper said.

These developments come as Yemen's Houthi forces launched attacks on targets in Saudi Arabia and seized the strategic island of Perim in the Bab el-Mandeb Strait, expanding their control over the narrow maritime passage.

Brent crude, the global benchmark for oil prices, rose more than 3.4% on Sunday, reaching $108 per barrel.

Since the drone attacks forced the pipeline shutdown, Riyadh has not yet provided full details about the extent of the damage or how long the line will remain offline. Saudi Arabia blamed the attack on drones launched by armed groups in Iraq.