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Market Chatter: Saudi Arabia Targets Partial Oil Pipeline Restart Within Days

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Saudi Arabia is working to restart part of a key oil pipeline within days, while targeting a full return to normal operations in about six weeks, Bloomberg reported Wednesday, citing a person familiar with the matter.

Saudi Aramco plans to bypass the damaged section and initially restore roughly half the pipeline's capacity. A drone attack last week disrupted the key cross-country oil pipeline, while Aramco has increased crude sales from the route outside the Strait of Hormuz to help offset lost volumes.

Aramco sold about 20 million barrels to Asian refiners, including Chinese buyers, for September and October pickup, but delays for European customers pushed regional crude prices higher, the report said.

Saudi Aramco and Saudi Arabia's Ministry of Energy did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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US Oil Update: Crude Rises as Saudi Pipeline Outage, Russia Attacks Raise Supply Risks

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Oil & Energy

Market Chatter: Vance Says US-Iran War Could End After Midterms as Conflict Enters New Phase

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Oil & Energy

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