This websiteโs original language is English. For translation, click the globe icon or choose Translate in the menu.
5 matching records found
Oil held a drop on signs that supply disruptions in the Middle East are set to ease, with Saudi Arabia seeking to restore capacity of its damaged East-West pipeline. Global fuel markets have been squeezed by the combined impact of the US-Iran conflict and the war between Russia and Ukraine, with Kyiv pummeling Moscowโs refineries. Bloomberg's Will Kennedy breaks down the situation. (Source: Bloomberg)
Saudi Arabia has cancelled some oil deliveries to Europe after attacks shut down its export pipeline to the Red Sea.
With global supplies already stretched, the market can ill afford to lose a key Saudi export route.
Saudi Arabia shut its East-West Pipeline as a precaution after multiple attacks, threatening a crucial route for moving crude to the Red Sea while bypassing disruptions in the Strait of Hormuz. Bloomberg Economics' Ziad Daoud says prolonged disruption could tighten global energy supplies further, adding pressure to oil and US diesel prices. (Source: Bloomberg)