Oil Rises as Saudi Pipeline Shutdown Threatens Middle East Supplies

Oil became more expensive after an important Saudi pipeline stopped working.

The pipeline carries oil across Saudi Arabia to a port on the Red Sea.

It can move about 7 million barrels of oil each day.

Some officials said repairs could take several weeks, but a U.S. energy official said it might restart very soon.

Saudi Arabia has enough oil stored at the port to keep exports going for about five to seven days, according to analysts.

If the shutdown lasts longer, Saudi Arabia might need to reduce how much oil it produces.

Ships are also facing danger and delays near the Strait of Hormuz.

Problems at Russian refineries have made diesel harder and more expensive to obtain.

Traders are watching whether oil supplies recover or become even tighter.