Saudi Aramco Shifts Crude Exports to Persian Gulf, Easing Supply Fears and Lowering Brent Prices
On September 18, 2026, Saudi Aramco redirected its crude oil exports from the East-West pipeline to the Persian Gulf in response to ongoing disruptions caused by drone attacks. This shift has eased market concerns over supply shortages, leading ICE Brent prices below $105 per barrel for the first time since last week’s panic. While flows through Ras Tanura remain at risk due to potential Iranian threats, Saudi Aramco's continued crude offerings to Asian buyers have provided some stability. The East-West pipeline is expected to be partially restored within days as repairs progress on damaged pumping stations. Meanwhile, other global developments include Canada expanding tax incentives for oil sands and carbon capture projects, a gradual recovery in Suez Canal container traffic, and potential approval of LNG Canada’s second phase expansion by October.
Tickers: $SHEL
Topics: Brent crude East-West pipeline export strategy oil prices Saudi Aramco