OIL: Aramco Sold ~10 VLCCs of Crude for Oct.-Nov. Delivery to Asia
Saudi Aramco sold ~10 VLCCs or more of crude for Oct.-Nov. delivery to Asian buyers, traders told Bloomberg. * Aramco had offered Arab Light, Medium and Heavy grades. * Buyers include refiners in China and South Korea. * Cargoes were sold at more than a $10/bbl premium to the Dubai benchmark on a delivered basis. * This week's sales add to ~60m bbl of Saudi oil sold last week which were mainly supplied via ship-to-ship transfer outside the SoH. * Aramco has increased its Persian Gulf loadings to the highest since at least June in recent days, with efforts bolstered after the East-West pipeline was damaged. * Pressure is building on the East-West pipeline, with a meaningful restart of flows targeted for Saturday, a source told Bloomberg on Sep. 22. * Traders said there were already signs of tankers arriving at the port of Yanbu.