Market Chatter: Saudi Aramco May Cut Crude Oil Supply to European Refiners After Pipeline Attacks

MT Newswires Live
Yesterday

TotalEnergies (TTE), BP (BP), Shell (SHEL), Equinor (EQNR) and other major European oil refiners may not be allocated any crude oil next month after Saudi Arabia's main pipeline to the Red Sea was attacked, Bloomberg reported Friday.

Saudi state-owned oil and gas company Saudi Aramco told at least two European oil refining firms that they will not receive crude oil next month due to the fighting, according to the report, which added that European customers normally receive a continuous flow of supply every month.

The East-West pipeline was shut last week after drone attacks, according to Bloomberg. The line is expected to partially resume operations within days and return to full service within six weeks, a person familiar with the situation told the news outlet.

Shares of the four companies were trading lower Friday pre-bell.

Saudi Aramco didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10