Economy / Markets
Brent steadies near $107 as Saudi East-West pipeline stays offline
Brent crude held above $106 a barrel in Asian trade on Wednesday, with analysts warning that Saudi Arabia's East-West pipeline remains shut after last week's drone strike from Iraq and Riyadh has not disclosed a repair timeline. Kpler estimates the market could lose around 120 million barrels if the pipeline stays closed for a month, while WTI also stayed elevated, keeping pressure on inflation expectations into the Federal Reserve's rate decision.