Economy
Important Saudi Oil Pipeline Resumes Operations
Saudi Aramco has restarted a major 1,200-kilometer oil pipeline connecting the Persian Gulf to Yanbu on the Red Sea, allowing crude exports and bypassing the vulnerable Strait of Hormuz. The network remained offline for over two weeks following Houthi drone attacks, causing initial price spikes due to supply concerns. Although repairs were completed faster than the estimated six weeks, oil prices continued to rise on Monday. This increase is attributed to US President Donald Trump rejecting an Iranian proposal for a ceasefire and full reopening of the Strait of Hormuz. While the pipeline’s maximum capacity is approximately seven million barrels per day, it remains unclear if export capabilities have fully recovered amid the ongoing blockade.
Ozetta summarises; the reporting is the newsroom's