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Market Chatter: Saudi Aramco Assures 3 European Refiners on Crude Deliveries

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Saudi Aramco has told at least three European oil refiners that it will fulfill contractual deliveries of crude oil next month, providing some reassurance as the country faces logistical hurdles both from the closure of the Strait of Hormuz and more recently, disruption in the Red Sea, Bloomberg reported on Wednesday.

The refineries have been promised all the barrels they have requested, with delivery to come in September, the article said, citing unnamed sources unauthorized to speak to the media, but with knowledge of the transactions.

Two buyers will collect their cargoes from Egypt's Mediterranean port of Sidi Kerir and a third has the option of the same port or Saudi port of Yanbu in the Red Sea, or through ship-to-ship transfer from Malta.

The supplies will be reassuring for European refiners after shipments from the Caspian Pipeline Consortium or CPC, were reduced last month after drone attacks on vessels in the Black Sea.

Saudi Aramco declined Bloomberg's request for comment.has contacted Saudi Aramco seeking 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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