{
  "id": 27090,
  "title": "Saudis Push Maritime Coalition as Oil Finds Support",
  "url": "https://urgent.news/2026/07/31/saudis-push-maritime-coalition-as-oil-finds-support",
  "topic": "ai",
  "section": "AI",
  "published": "2026-07-31T16:15:56.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Energy/Crude-Oil/Saudis-Push-Maritime-Coalition-as-Oil-Finds-Support.html"
  },
  "original_language": "en",
  "account": "Saudi Arabia has announced the formation of an international coalition aimed at protecting Red Sea shipping from Houthi attacks. The coalition, led by Riyadh and comprising 13 other nations, seeks to secure the vital trade route. Meanwhile, Egypt reported a drone attack at Damietta port, causing a fire on two gas vessels, including an LNG import terminal. The Caspian Pipeline Consortium halted oil loadings at its Black Sea terminal after drone attacks. Meanwhile, South Korea is exploring imports of Venezuelan crude amid Middle East disruptions. BP is preparing to exit its UK North Sea operations due to high taxes and a deteriorating investment climate. Venezuela plans to introduce a new natural gas law to attract foreign investment, while QatarEnergy's LNG tanker has cleared the Strait of Hormuz for the first time in three weeks. Russia has extended its diesel export ban for another month, while China's coal share in electricity generation fell below 50% for the first time. Portugal has approved a solidarity tax on excess oil profits, and Zijin's takeover of Allied Gold fell through.",
  "summary": "Brent is set for an 8% weekly loss, but ongoing disruptions in the Strait of Hormuz and the Red Sea continue to support oil prices near $90 a barrel. Friday, July 31, 2026 Oil prices are set for an 8% weekly loss after the sell-off earlier this week was halted by the reality of two disrupted waterways in the Middle East, with Saudi Arabia seeking to organize a maritime coalition against the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}