Crude oil prices surged above $100 per barrel after drone attacks forced Saudi Arabia to shut its critical East-West pipeline, which carries about 4 million barrels per day to the Red Sea port of Yanbu. This pipeline outage threatens up to 4% of the global oil supply, intensifying concerns over near-term exports. Repair timelines remain unclear, with conflicting industry estimates and no official guidance from Saudi officials. Meanwhile, Novo Nordisk is rebranding to 'Novo' and will reveal a new corporate strategy on September 21. In the U.S., debates over AI regulation continue as former President Trump argues for rapid development to maintain U.S. leadership, opposing calls for cautious industry self-regulation and government guardrails.
