Economy
Major Saudi Oil Pipeline Restored After Drone Attack
Saudi Arabia's 1,200-kilometer East-West pipeline has resumed operations following a drone attack that damaged three pumping stations nearly two weeks ago. The State Oil Company Aramco aims to restore daily flows of 4 million barrels within seven weeks, allowing the kingdom to bypass the Strait of Hormuz amid ongoing conflict between the US, Israel, and Iran. Consequently, crude oil prices dropped by approximately $2 to $97 per barrel, their lowest level since September 8. This development coincides with diplomatic efforts, as President Trump announced that envoys Witkoff and Kushner held a productive three-hour meeting with Iranian officials in New York. During his UN address, Trump threatened to "destroy" Iran if an agreement is not reached quickly and accused Tehran of delaying negotiations until after the November US midterm elections.
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