Ankara: Saudi Arabia's pivotal East-West crude oil pipeline is projected to resume operations 'very soon,' as stated by US Energy Secretary Chris Wright in an interview with CNBC on Tuesday. Wright assured that the disruption will be 'brief and temporary,' estimating that operations will be affected only for a few days.

According to Anadolu Agency, the pipeline was forced to shut down late last week following damage from a drone strike that originated from Iraq. Wright attributed the attack to Iran-backed proxy groups, highlighting the escalating tensions in the region. The East-West pipeline, crucial for redirecting Saudi crude oil exports toward the Red Sea, plays a significant role in mitigating the geopolitical challenges posed by the US-Iran power struggle over the Strait of Hormuz.

In the interim, while the pipeline remains non-operational, Saudi Arabia has been rerouting a portion of its oil shipments through the Strait of Hormuz, supported by the US military, as disclosed by Wright. This strategic maneuver aims to ensure that oil exports face minimal disruption despite the temporary shutdown.

The temporary closure of the pipeline has also had an impact on the oil markets. US crude oil prices have surged more than 5% this week, surpassing $105 per barrel. Traders are closely monitoring the situation to assess the potential implications of the supply disruption caused by the pipeline's outage.