No crude next month, Saudi Aramco informs European oil buyers
Saudi Aramco has told at least two European refining customers they will receive no crude next month under term contracts after an attack on the kingdom's East-West pipeline. The company has offered spot cargoes to Asian buyers via the Persian Gulf, while European buyers face higher prices and the need to find replacements.
Why it matters: This disruption to Saudi crude deliveries highlights the vulnerability of European energy security to Middle East infrastructure attacks.