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Market Chatter: Saudi Aramco Offers More Crude Oil Outside Hormuz in September

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Saudi Aramco has offered Asian buyers more crude oil for loading outside the Strait of Hormuz in September, as its sales process for Arab Medium and Arab Heavy grades via ship-to-ship transfers continued for a second straight week, Reuters reported Wednesday, citing sources.

Cargoes can reportedly be picked up either in Fujairah, UAE, or in Sohar, Oman, as the company shuttles crude from inside the Persian Gulf through Hormuz for loading onto ships outside the strait. Bids are due by Wednesday.

Shipping data cited by the news agency showed that two supertankers were bound for China after loading 4 million barrels of Saudi crude via STS transfers off Sohar. Aramco has also resumed oil loading at the Ras Tanura port in early August and sold at least 4 mmbbls of the heavier grade to PetroChina and Sinochem last week.

Aramco did not immediately respond to' request 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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