Blogger Comment: I have radically changed my mind concerning Trump’s conseravtive views on keeping financially and economic safe western economies and where his passion for Isreal is literally destroying everything that I thought was good for the world and where he appears to have gone of the edge with the Globalist’s disease of wanting more and those little thing called personal wealth, power and GREED…but where still the worser of the two evils is the Democrats who sold their sould under Biden and Harris to the elite Globalists and who woul;d in another 4 yeras of them being in power, destroy totally yje USA…so still keeping with Trump, but only due to the frightening fact that if the if US falls, all is lost in the western world and the Globalists have won…with their One World Government (OWG) in 2030, their stated golden year…period
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Europe is heading toward a potentially punishing winter energy crunch after drone attacks shut down Saudi Arabia’s critical East-West oil pipeline just as the continent enters the cold season with natural gas storage far below normal levels.
The Saudi pipeline provides a crucial alternative route for crude oil that bypasses the Strait of Hormuz.
With the system offline, analysts estimate that between 3.5 million and 4 million barrels per day of exports could be at risk, representing as much as 4% of global oil supply.
At the same time, European natural gas storage is sitting at only around 69% capacity, dramatically below the five-year average of approximately 85% for this point in the year.
The combination threatens to squeeze Europe simultaneously on oil and natural gas as temperatures begin to fall.
Drone Attacks Knock Out Critical Saudi Pipeline
Saudi Arabia’s roughly 745-mile East-West pipeline stretches from the kingdom’s oil-producing eastern region to the Red Sea port of Yanbu.
The pipeline allows Saudi crude to reach international markets without traveling through the Strait of Hormuz, one of the world’s most strategically important oil chokepoints.
The system can transport as much as 5.5 million barrels per day.
Saudi Arabia temporarily shut the pipeline following drone attacks on its infrastructure, threatening one of the kingdom’s most important alternative export routes.
The disruption is particularly significant for European refiners, which could be forced to compete for alternative crude supplies if the pipeline remains out of service for an extended period.
Brent crude surged above $113 per barrel earlier this week as markets reacted to the pipeline disruption and escalating tensions across the Middle East.
Prices eased Friday following reports that Saudi Arabia was working to restore as much as half of the pipeline’s capacity.
But the longer the disruption continues, the greater the potential pressure on global supplies — and Europe is entering the crisis with another major energy problem already developing.
Europe’s Gas Storage Falls Far Below Normal
European natural gas storage is only around 69% full heading into winter, compared with a five-year average of approximately 85% at this point in the year, according to Gas Infrastructure.
Europe’s benchmark natural gas price was trading at approximately $27.26 per million British thermal units on Thursday, based on the reported European price of €81 per megawatt-hour.
That represents an increase of around 150% from a year earlier.
Analysts have warned that European prices could climb to approximately $33.66 per million Btu if conditions deteriorate, based on the projected €100-per-megawatt-hour level.
Jack Sharples of the Oxford Institute for Energy Studies warned that Europe does not necessarily need an exceptionally severe winter to find itself in trouble.
“I could see in even just a normal cold winter, not even a dramatically cold winter, storage being very heavily depleted,” Sharples said.
The Saudi pipeline shutdown therefore arrives at a particularly dangerous moment.
Europe faces reduced natural gas reserves while instability in the Middle East simultaneously threatens the oil supplies needed to keep its economies moving.
Energy Crisis Collides With Election Season
The renewed energy squeeze is also arriving as major European countries prepare for elections next year, putting political pressure on governments to contain rapidly rising fuel costs.
French President Emmanuel Macron ordered a “mobilisation” on fuel prices this week while emphasizing the importance of restoring navigation through the Strait of Hormuz and protecting allied energy infrastructure.
“The priority: restoring freedom of navigation in the Strait of Hormuz, a vital artery for oil transit, protecting the energy infrastructure of our partners, and securing production,” Macron said.
“It’s essential to guarantee our supplies. We’re working with our coalition partners to ensure freedom of navigation in the Strait of Hormuz.”
Italian Prime Minister Giorgia Meloni, meanwhile, abolished a car tax as her government moves to ease pressure on motorists.
“We have chosen to redirect a portion of the resources used so far to address rising fuel prices into a simple, structural measure designed especially for those who use cars and motorcycles every day to work, take their children, or get around,” Meloni said.
Spain doubled its diesel tax reduction on September 1 to approximately $0.87 per gallon.
Germany is also preparing measures of its own. Chancellor Friedrich Merz said Berlin will “soon” announce its response as German pump prices reach the equivalent of approximately $12.48 per gallon.
Europe Heads Into Winter Exposed
Europe now faces pressure from two directions.
Natural gas reserves are substantially below their normal seasonal level, with storage at just 69% compared with the five-year average of 85%.
Meanwhile, drone attacks have disabled a Saudi pipeline capable of moving 5.5 million barrels of oil per day around the Strait of Hormuz.
Up to 4 million barrels per day of exports are potentially at risk while the pipeline remains disrupted.
With Brent already surging above $113 per barrel and European natural gas prices roughly 150% higher than a year ago, governments are scrambling to shield consumers from another energy shock.
And with winter approaching, even an ordinarily cold season could leave Europe’s depleted natural gas reserves under severe pressure.
Follow the link for the source… https://slaynews.com/europe-winter-energy-drone-attacks-shut-down-key-saudi-oil-pipeline/
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