🇺🇸 BREAKING: U.S. oil executives say the “GREAT FUEL CRISIS” is here as Saudi Arabia cancels ALL of its September European crude oil allocations.
American oil executives are warning that the buffers protecting global fuel markets have “largely now played out,” with commercial inventories depleted and strategic reserves increasingly stretched, per WSJ.
U.S. crude has surged to around $101 a barrel, while diesel has hit a record $6.23 a gallon.
Chevron CEO Mike Wirth says: “I wish I could tell you that I saw some reason why things would ease, but it’s difficult right now to see that happen.”
Saudi Arabia has now canceled September crude cargoes to Europe after drone attacks forced the shutdown of its key East-West pipeline and suspended loadings at the Red Sea port of Yanbu, sending buyers scrambling for alternatives.
The pipeline carried nearly 2.5 million barrels a day, and its shutdown is further tightening global fuel supplies..
#greatfuelcrisis #SaudiArabia #crude #Write2Earn $LSK
$BNB
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American oil executives are warning that the buffers protecting global fuel markets have “largely now played out,” with commercial inventories depleted and strategic reserves increasingly stretched, per WSJ.
U.S. crude has surged to around $101 a barrel, while diesel has hit a record $6.23 a gallon.
Chevron CEO Mike Wirth says: “I wish I could tell you that I saw some reason why things would ease, but it’s difficult right now to see that happen.”
Saudi Arabia has now canceled September crude cargoes to Europe after drone attacks forced the shutdown of its key East-West pipeline and suspended loadings at the Red Sea port of Yanbu, sending buyers scrambling for alternatives.
The pipeline carried nearly 2.5 million barrels a day, and its shutdown is further tightening global fuel supplies..
#greatfuelcrisis #SaudiArabia #crude #Write2Earn $LSK
$BNB
$BTC
