Crude oil holds above $100 as Saudi pipeline outage compounds Hormuz disruption

Brent crude traded above $105-107 a barrel and WTI near $102, close to four-month highs, as Saudi Arabia's East-West pipeline — a key alternative route bypassing the Strait of Hormuz — remained shut with Saudi Aramco yet to say when it will reopen. Bloomberg and Al Jazeera reported that Hormuz oil-product shipments are only slowly recovering, keeping fuel prices elevated for consumers globally even as the US says it is working to clear Hormuz traffic.

Why this matters. With the main Hormuz workaround pipeline offline and Iran refusing talks, traders have no near-term catalyst to expect relief, keeping global fuel costs elevated and increasing pressure on the US and Gulf states to secure safe shipping lanes.