WTI Surges Past $100 as Saudi Pipeline Attack Rattles Supply

WTI crude has pushed decisively above the $100 mark after confirmed drone strikes on Saudi Arabia's East-West pipeline system, with U.S. officials citing multiple pumping stations hit in Thursday's attack. Satellite data had already flagged unusual activity along the corridor before the strikes were confirmed, and the disruption threatens a route that carries roughly 3-4 million barrels per day of Saudi crude exports.

With Brent trading near $105 and Middle Eastern grades spiking as high as $120, WTI's discount to global benchmarks is narrowing fast as traders price in the risk of prolonged Gulf supply constraints. The Strait of Hormuz remaining effectively shut since March has already removed a corridor that historically moved about a fifth of global oil and LNG flows.

A weekend meeting of Gulf foreign ministers has offered some reassurance, but until pipeline damage is assessed and repaired, WTI is likely to stay bid on any fresh escalation headlines.