According to CoinMeta, Saudi Arabia has closed a key east-west oil pipeline, exacerbating risks around the Strait of Hormuz and the Red Sea. The pipeline once transported approximately 4 million barrels per day, accounting for nearly 4% of the global oil supply. On Friday, Brent crude closed at $104.61 per barrel, while WTI closed at $100.05 per barrel. Although there was a decline on Friday, both still rose by more than 8% from last week. If the pipeline remains shut down, the storage facilities in Yanbu can only sustain exports for 5 to 7 days. The International Energy Agency expects that global oil demand will decrease by 2.5 million barrels per day in 2026, with the supply side deteriorating even faster.