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Market Chatter: UAE's Adnoc Tenders 14 Million Barrels of Crude to Asia

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Abu Dhabi National Oil Company has reportedly sold at least 14 million barrels of Persian Gulf crude to Asian buyers, Bloomberg reported on Monday citing sources.

The transaction marks the first tenders of their kind for these specific crude grades since the outbreak of the Iran war, signaling a significant move to maintain supply lines despite heightened regional risks, it said.

The report further added that the total purchased volumes are expected to rise even further as the state-backed oil giant is currently running a second tender under identical terms.

The company did not respond immediately to' request for comments.

(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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