Fujairah pipeline UAE to Oman
Saudi Arabia has resumed operations at its key East-West pipeline, according to a new report.

Saudi Arabia has resumed operations at its key East-West pipeline less than two weeks after taking multiple hits, according to a new report.

Reuters detailed that Riyadh could resume exports from its Red Sea port of Yanbu on Tuesday.

A previous report from last week noted that the company was seeking to return to full capacity in about six weeks. The pipeline transports about 4% of global oil supplies. Riyadh is immersed in an armed conflict with Yemen's Iran-backed Houthi rebels, which have set an embargo of Saudi oil going through the Red Sea.

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Oil prices are also falling on Tuesday after Iran reportedly said it can reopen the Strait of Hormuz in a matter of seven days if it reaches a deal with the U.S. to ease military pressure and lift the blockade of its ports.

Citing an unnamed senior Iranian official, Reuters detailed that Tehran conveyed a proposal to the U.S. last week. "The U.S. needs ​to announce that it wants to resolve the issue diplomatically, ​make that official, and then agree on a timeline for how the process will move forward," the official said.

President Donald Trump said he would probably be open to meeting with Iranian President Masoud Pezeshkian, who is expected to travel to New York to attend the United Nations General Assembly. The Iranian official said the delegation flying to New York has full authority to conduct diplomatic talks, but Pezeshkian is not expected to meet with Trump at the moment. Trump is set to address the UNGA on Tuesday.

At the same time, Trump also said he is in a "deciding mode" and "very big things" about the war will take place soon. "My question is, if and when do I blow the entire nation up? They better behave," Trump said. Treasury Secretary Scott Bessent also threatened to "shut down" Iranian airlines and sanction countries receiving the planes as of Wednesday.

"How do we do that? That if they land, you cannot provide them with fuel. You cannot provide them with landing services, you cannot sell them tickets, or you will be knocked out of the dollar system," Bessent said.

The Iranian military also said its intelligence shows the U.S. preparing a new, large-scale strike against the country and warned of "painful retaliation" across the region. Countries deemed to be backing the strike would be considered as involved in the conflict, forces added.