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Market Chatter: Saudi Aramco Turns to Mediterranean, Europe for Large Volumes of Fuel

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Saudi Aramco has ramped up efforts to secure large volumes of diesel in the Mediterranean and gasoline in Europe after a wave of security incidents at its domestic energy facilities, Bloomberg reported Thursday, citing traders.

The state-owned oil major has been actively bidding for diesel cargoes through the Platts pricing window operated by S&P Global over the past several weeks. Traders reportedly said that Aramco has simultaneously sought gasoline supplies across Europe.

Though the procurement push predates attacks last week on a pipeline feeding oil refineries along the Gulf state's Red Sea coast, the buying pattern coincides with a series of reported disruptions at fuel-making plants over recent months.

Saudi Aramco did not immediately reply 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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