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      Oil Prices Remain Elevated Amid Unverified Houthi Claims of Pipeline Attack

      Oil prices held near multi-year highs on September 11, 2026, following unverified reports of a Houthi strike on Saudi Arabia's East-West pipeline. Satellite imagery reportedly showed significant fire hotspots along the pipeline, which is crucial for transporting crude oil from the Eastern Province to the Red Sea port of Yanbu. The pipeline, also known as Petroline, has a capacity of up to seven million barrels per day and serves as a key export route, especially given the ongoing geopolitical tensions in the region.

      Despite the lack of confirmation from Saudi Aramco or local authorities regarding the alleged attack, market participants are closely monitoring the situation. A previous confirmed attack on the same pipeline in April resulted in a significant reduction of approximately 700,000 barrels per day in throughput, raising concerns about potential disruptions to Saudi export capacity if the latest claims are verified.

      In related market movements, the US 10-year Treasury yield rose above 4.97%, its highest level since October 2023, contributing to a decline in Asia-Pacific equities. Japan's Nikkei index fell nearly 3%, while South Korea's Kospi dropped around 2.5%. Additionally, Japan's corporate goods price index increased by 7.6% year on year in August, exceeding expectations and reinforcing predictions of a potential interest rate hike by the Bank of Japan at its upcoming meeting.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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