A person with direct knowledge of the matter said that a key east-west oil pipeline in Saudi Arabia has begun restoring crude exports after it was attacked by drones earlier this month and repairs were completed. The person had previously said that Saudi Aramco had been testing the east-west pipeline last week and gradually increasing pressure, with the goal of restoring substantial volumes before the weekend. The person asked not to be identified because the information is not public. The person familiar with operations said crude exports through the pipeline have now resumed. Saudi Aramco and the Saudi Ministry of Energy did not immediately respond to requests for comment.

Although Saudi Arabia has already increased crude exports through the Strait of Hormuz this month, the resumption of the pipeline gives the kingdom back an alternative export route it had been using during the Iran war. The pipeline's return will ease supply pressure on buyers. Previously, Saudi Aramco notified at least two European refinery customers that it would not allocate any crude to them next month. Traders will be watching closely to see how much crude Saudi Arabia will continue to export through the Strait of Hormuz after the east-west pipeline fully restores capacity. Earlier this month, a person familiar with the matter said it could take about six weeks for the pipeline to fully recover. As the Iran war nears seven months, the Persian Gulf shipping route remains highly risky, with vessels coming under attack from time to time. Oil prices in the London market traded above $107 a barrel on Monday, as Iran and the United States still appear to have major differences over an agreement to end the conflict, pushing prices higher. Sina partner platform futures account opening is safe, fast and secure.