Oil's next test: Saudi Arabia races to restore a key safety valve for prices

Saudi Arabia's closure of the East-West pipeline has put more than 4 million barrels a day of crude export capacity at risk, forcing additional volumes toward the Strait of Hormuz. Analysts warn oil prices could rally sharply if the pipeline remains offline beyond an estimated five-to-seven-day inventory cushion.

Source: CNBC

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Category General

Source CNBC

Published 1 week ago

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News ID #17,514

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