$BTC
๐ธ๐ฆ๐จ๐ณ๐ฎ๐ณ Saudi is flooding Asia with nearly 100 MILLION barrels of oil...
Since mid-last week, the kingdom has sold a massive volume of crude for October and November delivery to refiners in China, India, Japan, and South Korea.
Most of it will move through the Strait of Hormuz because the East-West pipeline is still not fully back online after the September 10 attack.
The sales help ease a tightening market in Asia, where buyers have been struggling with higher prices, reduced Iranian flows, and growing caution over Russian crude.
Aramco is even handling more of the shipping itself to get the oil moving.
Source: Bloomberg
#BTC #worldnews #OilMarket
๐ธ๐ฆ๐จ๐ณ๐ฎ๐ณ Saudi is flooding Asia with nearly 100 MILLION barrels of oil...
Since mid-last week, the kingdom has sold a massive volume of crude for October and November delivery to refiners in China, India, Japan, and South Korea.
Most of it will move through the Strait of Hormuz because the East-West pipeline is still not fully back online after the September 10 attack.
The sales help ease a tightening market in Asia, where buyers have been struggling with higher prices, reduced Iranian flows, and growing caution over Russian crude.
Aramco is even handling more of the shipping itself to get the oil moving.
Source: Bloomberg
#BTC #worldnews #OilMarket
