Brent Oil Hits $109.40 Amid Saudi Pipeline Shutdown

Saudi Arabia's East-West pipeline has been shut down, causing Brent crude to rise to $109.40 per barrel (approximately 147,000 won) during trading on September 14. Saudi authorities stated the pipeline was closed as a precautionary measure after being struck by drone attacks originating from Iraq, according to Reuters. AP reported that repairs could take three to five weeks, with partial operations possible during the recovery period. The East-West pipeline transports oil from eastern Saudi fields to the Red Sea coast, bypassing the Hormuz Strait. The impact of Brent crude's rise on virtual asset markets and risk sentiment remains to be further confirmed.