Brief
Oil market tightens as Hormuz traffic falls and Saudi pipeline disrupted
Reduced Hormuz traffic and attacks on Saudi’s East‑West pipeline have pushed crude prices above $100 a barrel, raising fears of further hikes.
By Felo News Desk · Published
Oil markets are tightening after traffic through the Strait of Hormuz fell to under 15% of pre‑war levels and attacks on Saudi Arabia’s East‑West pipeline forced a temporary halt to shipments, the Independent reported on 29 September 2026.
Crude prices have risen from US$65 a barrel before Iran’s February conflict to over $100 a barrel in mid‑September. Saudi Arabia’s pipeline, which can move up to 7 million barrels per day, was operating at only 4‑5 million barrels before attacks in mid‑September blamed on Iran‑backed militias in Iraq. The pipeline has resumed at very low volumes, with full capacity expected to take six to eight weeks to restore.
Analysts note that the reduced Hormuz flow and the pipeline disruption add to existing pressures from Ukrainian drone attacks on Russian refineries, raising concerns about possible further price spikes or shortages.
Key facts
- Strait of Hormuz traffic is below 15% of pre‑war levels (independent.co.uk)
- Crude oil price rose from $65 to over $100 a barrel since February 2026 (independent.co.uk)
- Saudi Arabia’s East‑West pipeline capacity is 7 million barrels per day, currently operating at very low volumes after mid‑September attacks (independent.co.uk)
- Full pipeline capacity is expected to be restored in six to eight weeks (independent.co.uk)
Sources
- [1] independent.co.uk — originally reported as “$117 billion fuel shock: Why the worst gas price hikes are still ahead”
