LATEST: Saudi Aramco has told European refiners they will receive no crude next month under term contracts. The cutoff follows drone attacks that shut Saudi Arabia’s East-West pipeline and damaged three pumping stations. The line has been offline since September 10. At the same time, Aramco has sold about 60 million barrels from Ras Tanura for September and October loading via the Strait of Hormuz. Chinese and South Korean refiners are among the top buyers. Poland’s Orlen, which has relied on Saudi crude for about 40% of its volumes since 2022, has bought 16 extra cargoes to cover the gap. Those purchases could cost close to $1.5 billion, with physical European crude near $130 a barrel. OECD Europe imported 577,000 barrels per day of Saudi crude as recently as June. Aramco is targeting a partial restart within days and a return to full capacity within six weeks. Europe is being cut off. Asia is not.