World News by Wild Rose

Saudi Arabia’s fiscal buffers and backup oil-export facilities are helping curb the damage to the Middle East’s largest economy from the Iran war, according to the International Monetary Fund.

Oil gained Wednesday as hostilities intensified from Russia to the Middle East, threatening supply flows that only recently recovered to near pre-war levels. Brent traded above $106 after Iran-backed Houthi rebels launched missile and drone strikes across Saudi Arabia, including a hit that damaged Saudi Aramco’s headquarters. That added to an escalation in Iranian attacks on tankers in the Strait of Hormuz that’s threatening a rebound in Gulf supply. We discuss the latest energy headlines with Rob Barnett, Senior Energy Analyst for Bloomberg Intelligence. (Source: Bloomberg)

Oil edged higher as renewed strikes on Saudi Arabia’s main airport and a fresh tanker attack near the Strait of Hormuz raised the prospect that intensifying hostilities could exacerbate supply risks.

Saudi Aramco has told European oil refiners it will provide them with all the crude they asked for in November after the kingdom’s key cross-country pipeline resumed operation following attacks, offering relief to customers who’ve been forced to find alternative supplies.

Saudi Arabia and the United Arab Emirates will support a Japanese initiative to bolster oil supplies in Southeast Asia after war-driven disruptions heightened concerns over energy security.

Energy Minister Prince Abdulaziz bin ⁠Salman says capacity restored after major attack last month.

Saudi Arabia is pumping 5.8 million barrels a day through its key cross-country pipeline, Energy Minister Prince Abdulaziz bin Salman said.

Oil held a two-day drop, as rising Persian Gulf exports and a steep price cut by Saudi Arabia reinforced signs of a loosening market.

Oil fluctuated in jittery trading, as Saudi Arabia cut prices of its benchmark grade to Asia, the kingdom’s state producer warned about the risk of low stockpiles and as fighting in Yemen intensified. Martijn Rats, Global Commodities Strategist at Morgan Stanley, discusses upside oil risks amid broader Middle East fighting. (Source: Bloomberg)

Saudi Arabia’s East-West pipeline is operating normally, people familiar with the matter said, after reports that it had suffered a further attack.

Oil dropped after Saudi Arabia cut prices of its benchmark grade to Asia as flows expand, offsetting a lift from intensified fighting in Yemen.

Saudi Arabia has raised oil flows through its key cross-country pipeline to more than 80% of capacity, with volumes available for exports from the kingdom’s west coast reaching wartime highs as it sends less to domestic refineries.

Oil rose a second day as uncertainty over progress in US-Iran talks weighed against signs of strong demand and a resumption of flows through a key pipeline from top exporter Saudi Arabia.

Saudi Arabia has started exporting oil using a key cross-country pipeline after the link was repaired following drone strikes earlier this month, a person with direct knowledge of the matter said.

When Iran shut down the Strait of Hormuz at the start of the war, choking off sea passage for some 15 million barrels of oil a day, many feared that prices would skyrocket, cratering the world economy. Instead, nearly seven months on, oil is expensive but not exorbitant, and analysts say there is enough oil available to meet current global needs, even as the higher prices cause political problems for US President Donald Trump and others. That’s because Saudi Arabia and other Gulf producers...

Saudi Arabia’s crude shipments in September jumped to the highest level since the start of the Iran war, after the kingdom quickly ramped up exports via the Strait of Hormuz following an attack on its key bypass pipeline.

Saudi Arabia’s nearly trillion-dollar wealth fund, one the world’s biggest sovereign investors, is considering increasing its allocation to fixed income assets and award a mandate to Pacific Investment Management Co.

EIL is seeking project consultancy and feasibility-study mandates for the planned infrastructure

Asian economies heavily dependent on imported energy are facing an even sharper squeeze after the shutdown of Saudi Arabia’s East-West pipeline removed a key escape route from the disruption in the Strait of Hormuz, deepening an energy shock that has already pushed crude oil above US$100 a barrel. Analysts said the loss of that bypass would hit Asian refiners first before feeding through to inflation, currencies and economic growth across the region. Saudi Arabia, the world’s largest oil...

Saudi Aramco told at least two oil refining customers in Europe that they will be allocated no crude oil next month after the kingdom’s key pipeline to the Red Sea was attacked, people informed of the decision said.

Saudi Arabia is seeking to return about half the capacity of its cross-country oil pipeline within days after the link was halted following drone attacks. Bloomberg's Stuart Livingstone-Wallace has the context. (Source: Bloomberg)

Oil extended the biggest drop in more than six weeks on signs of easing Middle East supply disruptions, with a key pipeline being restored.

Saudi Arabia is ramping up prompt spot sales of crude from outside the Strait of Hormuz following the shutdown of the kingdom’s East-West pipeline, which halted cross-country flows to its Red Sea coast.

Saudi Arabia has cancelled some oil deliveries to Europe after attacks shut down its export pipeline to the Red Sea.

Brent traded above US$108 on Monday after Saudi Arabia shut its East-West pipeline. Petrobras shares rose, but Vale and the banks pulled the Ibovespa down. The post Oil Prices Pass US$108 After Saudi Pipeline Halt, and Petrobras Rises While the Ibovespa Falls appeared first on The Rio Times.

Oil surged as Saudi Arabia’s closure of a major crude pipeline following attacks jolted the market, with the move disrupting a route that’s been key to bypassing the Strait of Hormuz during the US-Iran war. Bloomberg's Rob Barnett joins to discuss. (Source: Bloomberg)

US Energy Secretary Chris Wright says he expects Saudi Arabia’s East-West Pipeline to the Red Sea to be up and running “very soon.” Wight also discusses flows of crude oil and oil products through the Strait of Hormuz and the status of the US’s strategic petroleum reserve on “Bloomberg Surveillance.” (Source: Bloomberg)

"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops. (Source: Bloomberg)

With global supplies already stretched, the market can ill afford to lose a key Saudi export route.