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Producers are using ship-to-ship transfers off Oman's coast to keep Middle East oil exports flowing amid escalating regional conflict, but the complex and costly process is increasing freight rates and absorbing discounts. Around 2.5 million barrels per day of crude are expected to be loaded via ship-to-ship transfers
U.S. President Donald Trump’s United Nations General Assembly (UNGA) speech next week will land amid a Middle East war that is driving global energy prices higher in Europe and at home. The uncertainty is also testing an increasingly fractured UN that lacks the capacity to mediate the very crisis destabilizing markets.
() -- Saudi Aramco slashed its official selling prices for Asia by $11 per barrel in August, a decision that underscored deepening concerns over a global crude supply glut as regional production recovers faster than demand, Kpler strategists said in a note on Tuesday. Muyu Xu, senior Crude Oil Analyst at Kpler, said th
() -- Crude oil futures were little changed on Monday as markets weighed Saudi Arabia's decision to cut crude prices for Asian buyers against OPEC+'s output hike, reinforcing concerns that global supplies could outpace demand. Front-month West Texas Intermediate crude futures eased 0.13% to $68.68 per barrel, while Bre
() -- Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, said Monday it will cut certain crude oil prices in August, compared with July. According to a price list from the Saudi state-owned oil giant, prices for North West Europe and the Mediterranean were reduced by $15. Meanwhile, crude prices for buyers in North