Tight Market For Sour Crude Lifts Middle Eastern Prices
The rollover of Saudi oil output cuts into August and a visibly tighter market have finally led to more bullish sentiment in markets, leading to higher Middle East crude prices
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The rollover of Saudi oil output cuts into August and a visibly tighter market have finally led to more bullish sentiment in markets, leading to higher Middle East crude prices
Asian refiners have booked near-record volumes of U.S. crude to be shipped in August, replacing Middle Eastern oil, as competitive prices and ample supplies attracted heavy buying, according to trade...
(Bloomberg) -- Prices of dirtier, sludgier oil in Asia are surging, flipping the premiums usually commanded by lighter crudes and offering further evidence that Saudi Arabia’s prolonged supply cuts are tightening the market.Most Read from BloombergDollar’s Busted Bull Run Has Bears Calling End of an EraIsrael Quietly Embeds AI Systems in Deadly Military OperationsRussia Takes Temporary Control of Danone, Carlsberg AssetsUPS Union Asks Biden Not to Intervene in Case of StrikeHistory Says It’s Tim
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Prices of dirtier oil in Asia are surging, offering further evidence that Saudi's prolonged supply cuts are tightening the market.