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Market Chatter: Aramco Sells Crude to China for Loading Outside Hormuz

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Saudi Aramco has sold at least 4 million barrels of crude oil to two Chinese refiners, following an offer on Monday to load cargoes outside of the Strait of Hormuz, Reuters reported Thursday, citing sources.

PetroChina and Sinochem each bought 2 mmbbls of Saudi heavy grade at premiums, the sources told the news agency. Cargoes will be loaded via ship-to-ship transfers off Fujairah in the UAE.

Saudi Aramco has also reportedly resumed oil loading inside the strait.

The companies did not immediately respond to' requests for comment.

(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.)

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