Brent falls below $104 after Saudi pipeline restart
Officials said Saudi Arabia has begun a gradual restoration of the East-West crude pipeline; Brent slipped under $104 a barrel for a second consecutive day.
Mateo Fernandez ·
Brent futures fell below $104 a barrel on Thursday after officials said Saudi Arabia had begun a gradual restoration of the East-West crude pipeline, with prices sliding for a second straight session.
East-West pipeline restart
Officials said the repair work is being phased in to return flows on a critical export route that had been disrupted. The move, officials added, is intended to restore throughput while avoiding a sudden surge that could strain downstream systems.
Traders said the announcement eased immediate supply concerns, helping to sap recent gains; market commentary noted, however, that overall price levels remain elevated. Data showed Brent trading beneath the $104 mark, and officials characterised the change as gradual rather than immediate full-capacity restoration.
Market participants will watch volumes and official updates closely. Traders said they will assess whether exports reach pre-disruption levels by September 30, 2026; if flows recover by that date, pressure on prices could ease, but if repairs stall, supply tightness could sustain elevated benchmarks.