OIL: Mid-Day Oil Summary: Crude Steady
Crude is relatively steady as markets weigh US-Iran talks on the sidelines of this week's UN gathering against ongoing supply disruption. * Brent NOV 26 up 0.3% at 99.53$/bbl * WTI NOV 26 down 0.5% at 90.03$/bbl * US special envoy Witkoff said that lengthy talks have taken place with the Iranian delegation through mediators and they are set to continue. Iran's foreign ministry official Baghaei confirmed that Qatar is mediating and that the purpose of the talks is to communicate Iran's demands. President Pezeshkian is due to speak to the UN Wednesday and has arrived in New York, according to IRNA. * Ukrainian President Zelenskyy has asked President Trump for a military package including air defence items. He said that Ukraine had destroyed 45% of Russian refining capacity. * Yesterday Saudi Arabia was preparing to resume crude oil exports from having restarted the East-West pipeline at a low rate, 26. Traders said there were already signs of tankers arriving at Yanbu. * Saudi Aramco sold ~10 VLCCs or more of crude for Oct.-Nov. delivery to Asian buyers, traders told Bloomberg. * Iraq exported 70m
Crude is relatively steady as markets weigh US-Iran talks on the sidelines of this week's UN gathering against ongoing supply disruption. 03$/bbl * US special envoy Witkoff said that lengthy talks have taken place with the Iranian delegation through mediators and they are set to continue. Iran's foreign ministry official Baghaei confirmed that Qatar is mediating and that the purpose of the talks is to communicate Iran's demands. President Pezeshkian is due to speak to the UN Wednesday and has arrived in New York, according to IRNA.
* Ukrainian President Zelenskyy has asked President Trump for a military package including air defence items. He said that Ukraine had destroyed 45% of Russian refining capacity. * Yesterday Saudi Arabia was preparing to resume crude oil exports from having restarted the East-West pipeline at a low rate, 26. Traders said there were already signs of tankers arriving at Yanbu.
-Nov. delivery to Asian buyers, traders told Bloomberg. * Iraq exported 70mbbl of oil in August and is currently exporting more than 3mb/d, Oil Minister Basim Mohammed said. * Chinese oil imports so far in September are running at just under 7m b/d, according to Vortexa data cited 's Javier Blas.
96mb/d, but remained 13% below pre-conflict levels, * The European Commission will meet with member states as part of its oil coordination group on Sep. 29 to discuss ongoing risks to supply, a spokesperson told Bloomberg. 16mbbl. 62%pts lower, a Bloomberg survey shows.