Saudi Arabia could cancel crude oil shipments for both September and October, according to The Zioneer. If confirmed, the prolonged cancellations could destabilize global energy markets and drive oil prices above $120 per barrel.
The Zioneer reports that Saudi Arabia may cancel crude oil shipments for both September and October, citing unconfirmed reports. The source warns that if the cancellations materialize, they could disrupt global energy markets and push oil prices above $120 per barrel.
This report follows an earlier bulletin by The Zioneer (today, 19:04) that Saudi Arabia had begun canceling shipments to European customers due to damage to the East-West Pipeline from recent drone strikes. The pipeline shutdown has already raised concerns over European supply shortages and price spikes.
If confirmed, the extended cancellations would mark a significant escalation in the impact of the ongoing disruptions to Saudi oil exports. The situation remains developing, and no official confirmation has been received.
3 developments
- StrongAramco shuts down pipeline in Al-Baqi and Riyadh area after Yemeni attack, reports say
- StrongAramco shares slip 1.1% at Saudi market open after pipeline strike
- DevelopingSaudi Arabia halts oil loading at Yanbu port after pipeline damage, Reuters reports
- ConfirmedSaudi Aramco's Jazan refinery shut, repairs expected by August 15 after Houthi strike
Source and signal
- Open-source intake