Oil Prices Drop as Saudi Pipeline Restarts, Hormuz Workarounds Boost Supply

Oil prices saw a sharp drop this week following the restart of Saudi Arabia's East-West pipeline, which was damaged by Houthi strikes last week. Producers in the region are increasingly relying on ship-to-ship transfers and pipelines bypassing the Strait of Hormuz to ensure continued exports. This adaptability, while costly, has maintained supply, easing market concerns. Lower crude oil prices could help ease Pakistan's import bill and potentially support the Pakistani Rupee against the US Dollar, indirectly influencing local gold prices.

بحوالہ / Source: oilprice.com