Saudi Pivots Oil Routes After Pipeline Attack
Saudi Arabia is ramping up prompt 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. The sale helped attribute to a fall in oil prices as physical markets cooled from recent peaks as traders bet some Middle East supply outages would be short-lived. Noam Raydan, William Sudhaus Senior…
We haven't written up this one. Bloomberg has the full story — the link below goes straight to it.
