-- Crude shipments from Saudi Arabia's Yanbu port continued Thursday despite an attack on the 7 million barrels per day East-West pipeline, Reuters reported Thursday, citing three sources.
Cargo loadings at the Red Sea terminal were continuing after the pipeline strike, with two buyers and one trading source indicating no immediate disruption to export operations.
Iran carried out the attack shortly after a ceasefire agreement, targeting the pipeline that serves as Saudi Arabia's main alternative export route, an industry source told Reuters on Wednesday.
The source said pipeline flows were expected to be disrupted, with authorities still evaluating the extent of the damage following the incident.
Yanbu has become a critical outlet as the Strait of Hormuz faces effective closure, limiting shipments from the Gulf and shifting export reliance toward the Red Sea.
Loadings at Yanbu averaged about 3.3 mmb/d in March, sharply higher than about 800,000 b/d in February, with the port capable of exporting up to 5 mmb/d, the report added, citing Kpler's data.
Saudi Aramco is diverting about 2 mmb/d of crude flowing through the pipeline to supply its refineries in western Saudi Arabia, according to the report.
has reached out to Saudi Aramco for any comments.
(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.)