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Market Chatter: Saudi Arabia's July Crude Oil Exports Decline Amid Persian Gulf, Red Sea Tensions

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Saudi Arabia's crude oil exports reportedly dropped by 460,000 barrels per day month-over-month in July to 4.2 million bpd, Bloomberg News reported Monday, citing its tanker-tracking data.

The exports fell amid heightened tensions and threats to maritime traffic in the Persian Gulf and the Red Sea after the interim agreement between the US and Iran collapsed, the report added.

Saudi Aramco and the Saudi Ministry of Energy did not immediately respond to requests for comments from.

(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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