Saudi Arabia resumed operation of the East-West oil pipeline; Brent oil prices fell

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World markets reacted by lowering oil prices amid reports of Saudi Arabia's intentions to resume operation of one of the most important oil pipelines in the East-West region, which allows Riyadh to transport oil bypassing the Strait of Hormuz. The oil pipeline was suspended in early September after an attack by drones launched from Iraq.

It is reported that Riyadh has already begun the first phase of the launch, and the resumption of oil exports along this line could begin as early as the end of this week.

Brent crude futures fell more than $2 a barrel, hitting their lowest level since September 8.

Due to the war in the Middle East and disruption of energy supplies through major routes, oil prices in the world have risen by more than 60% since the beginning of the year. The East-West oil pipeline allowed Saudi Arabia to trade oil bypassing the Strait of Hormuz, which was blocked by Iran.

According to Bloomberg, several oil traders said there were already signs of tankers arriving at the Red Sea port of Yanbu, where Saudi oil exports begin.

Between 4% and 5% of the world's oil is transported through the pipeline, according to Reuters, citing analysts and companies that track ship movements.

The 1,200-kilometer pipeline connects Saudi Arabia's Persian Gulf oil fields to the Red Sea coast and was built in the 1980s to allow oil to be transported around the Strait of Hormuz, which was then threatened by the Iran-Iraq War.

Houthi threat persists

Overall, Saudi Arabia's oil infrastructure remains vulnerable to attacks by Yemen's Iranian-backed Houthis.

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In early September, the Houthis seized control of most of the country's coastline in a lightning offensive in Yemen.

The standoff between Saudi Arabia and the Houthis escalated in July after Riyadh struck a Houthi-controlled airport in Yemen's capital to prevent the landing of an Iranian plane carrying senior Houthi officials returning from the funeral of Iranian Supreme Leader Ali Khamenei.

After the escalation began, Saudi Crown Prince Mohammed bin Salman called on Donald Trump to take action against the Houthis.

Last week, the US presidential administration announced the approval of a deal to sell 48 F-35 fighter jets, considered one of the most advanced in the world, to Saudi Arabia.

Riyadh has for years sought to acquire this combat aircraft, considered one of the most advanced in the world. However, Washington has so far refused the deal because the US is supplying F-35s to its ally Israel.