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[BUSINESS] · Saudi Arabia, Poland, Yemen, Libya · 16 sources

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Saudi Aramco cuts crude shipments to Europe after pipeline attack

Saudi Aramco has begun cancelling or delaying crude oil shipments to European refineries following drone attacks on the kingdom’s strategic East-West Pipeline. The 1,200-kilometer pipeline, which transports up to 7 million barrels per day to the Red Sea port of Yanbu, has been offline since September 10. Repairs to the damaged infrastructure are estimated to take between three and six weeks.

At least three European refineries have reportedly received notices that September cargoes are cancelled or delayed, with some shipments potentially pushed back to November. In response to the supply uncertainty, Poland’s state-controlled energy firm Orlen is actively seeking alternative crude supplies from the North Sea.

The disruption has significantly impacted global energy markets. Brent crude prices rose sharply, with physical market prices for dated Brent reaching approximately $122 per barrel. At the Yanbu export terminal, oil loadings have been suspended, and industry estimates suggest that local crude inventories may only last approximately five days.

Regional instability continues to threaten maritime routes, as Houthi forces in Yemen have recently captured islands in the Red Sea, increasing pressure on shipping lanes. Simultaneously, operations at three oil fields in Libya have been suspended due to local protests, further heightening global concerns regarding oil supply stability.

Entities

East-West Pipeline · Houthi · ORLEN · Saudi Arabia · Saudi Aramco · Yanbu

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Sources

about 3 hours ago