Oil prices continued to climb on Monday as markets reacted to the closure of a major Saudi Arabian pipeline, disrupting a route that has served as a critical alternative to the Strait of Hormuz during the ongoing conflict between the United States and Iran.
Brent crude advanced 2.53% in morning trading to $107.16 per barrel, having touched $108 at the open of the session — pushing ever closer to the highest level recorded since the war began. West Texas Intermediate (WTI), the US benchmark, was trading at $102.71 per barrel.
Saudi Arabia announced late on Friday, 11 April, the precautionary suspension of operations on the East-West Pipeline, following attacks the previous day. There are currently no indications as to when operations may resume.
“It all comes down to the duration [of the outage],” said June Goh, senior oil market analyst at Sparta Commodities SA, adding that if flows are restored quickly, the impact should be limited, as stockpiles held at Yanbu — at the western terminus of the pipeline — could be drawn upon. A prolonged suspension, however, could force production cuts.
Suvro Sarkar, head of energy sector research at DBS Bank Ltd, said reserves at Yanbu could sustain exports for five to seven days, but warned that beyond that threshold, the shutdown could trigger a “massive disruption” to global supply.
Last week, US Treasury Secretary Scott Bessent said he would announce sanctions against a major bank as part of efforts to pressure Iran into capitulating. Meanwhile, the US Navy is maintaining a blockade of Islamic Republic ports with the aim of curtailing the country’s energy exports.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/14/mercados/commodities/brent-abre-semana-a-subir-depois-da-suspensao-das-operacoes-em-oleoduto-saudita/
