⛽ Saudi pumps oil to Asia amidst Middle East tension
Saudi Arabia has shipped nearly 100 million barrels of oil to Asian buyers since the middle of last week to prevent a regional supply crunch. Buyers include refiners in China, India, Japan, and South Korea, with deliveries set for October and November via the Strait of Hormuz. This surge is more than double recent flows because the East-West pipeline is still down after the Sept. 10 attack. Iranian supply has stopped due to a US blockade, pushing demand elsewhere. Aramco is now managing logistics to help secure this crucial oil for Asian markets. ⛽