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Brent traded above US$108 on Monday after Saudi Arabia shut its East-West pipeline. Petrobras shares rose, but Vale and the banks pulled the Ibovespa down. The post Oil Prices Pass US$108 After Saudi Pipeline Halt, and Petrobras Rises While the Ibovespa Falls appeared first on The Rio Times.
Oil surged as Saudi Arabia’s closure of a major crude pipeline following attacks jolted the market, with the move disrupting a route that’s been key to bypassing the Strait of Hormuz during the US-Iran war. Bloomberg's Rob Barnett joins to discuss. (Source: Bloomberg)
US Energy Secretary Chris Wright says he expects Saudi Arabia’s East-West Pipeline to the Red Sea to be up and running “very soon.” Wight also discusses flows of crude oil and oil products through the Strait of Hormuz and the status of the US’s strategic petroleum reserve on “Bloomberg Surveillance.” (Source: Bloomberg)
"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops. (Source: Bloomberg)
With global supplies already stretched, the market can ill afford to lose a key Saudi export route.
Just three years ago, global bankers would fly into the Gulf to corner a slice of the world’s hottest market for new share sales. Now, even local advisers are being forced to hunt for business outside the region as deals dwindle.
Asian oil refiners are waiting for clarity on cargoes due to be picked up at Saudi Arabia’s Red Sea port of Yanbu, after the kingdom was forced to close a vital pipeline that serves the terminal following drone attacks.
Oil rose after Saudi Arabia shut a major crude pipeline following attacks, disrupting a route that’s been used to bypass the Strait of Hormuz during the US-Iran war and deepening a global energy crunch.
Saudi Arabia produced 5.97 million barrels a day in August against a target above 10. This is a physical shortfall, not a risk premium on a headline. The post Oil Prices Ended the Week Near $105. Ten Million Barrels a Day Are Not Being Pumped appeared first on The Rio Times.
Saudi Arabia shut its East-West Pipeline as a precaution after multiple attacks, threatening a crucial route for moving crude to the Red Sea while bypassing disruptions in the Strait of Hormuz. Bloomberg Economics' Ziad Daoud says prolonged disruption could tighten global energy supplies further, adding pressure to oil and US diesel prices. (Source: Bloomberg)
Saudi Arabia reported to OPEC that its crude oil production plunged again last month, hitting the lowest since 1990 as renewed hostilities between the US and Iran squeezed the kingdom’s export routes.
As the US and Iran trade air strikes in the vital Strait of Hormuz and Yemen's Houthi rebels step up their campaign against Saudi Arabia, surging oil prices have seen stocks falling across Asia. Investors appear to be holding their breath for the news that the Federal Reserve and other central banks will raise interest rates to tamp down the expected inflation.
OPEC’s crude oil production tumbled in August, snapping a two-month recovery, as output from group leader Saudi Arabia was curbed by threats to both of its export routes, according to a Bloomberg survey.
Gulf states Africa investment surged into ports, mining and farmland by 2026, with UAE logistics and Saudi deals reshaping trade corridors for investors. The post DP World and AD Ports Drive Gulf States Africa Investment as Saudi Deals Follow appeared first on The Rio Times.