Shea Levin — text status

Saudi Arabia says oil flows through its strategic East-West Pipeline have reached 5.8 million barrels, allowing the kingdom to increasingly bypass disruptions in the Strait of Hormuz by shipping crude through its Red Sea export hub at Yanbu, Reuters reports. Meanwhile, Brent crude fell below $100 as Gulf oil exports recovered to more than 81% of pre-war levels. Iranian exports have fallen to zero under the U.S. blockade, forcing Chinese refiners to sharply increase purchases from Iraq and Qatar, including at least 12 million barrels for October and November delivery.