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Saudi Arabia Restarts Red Sea Crude Oil Loadings
Saudi Arabia has restarted crude oil loadings at the Yanbu port on the Red Sea after the East-West pipeline resumed partial service, Reuters reported on Tuesday, citing vessel-tracking data and trade sources. Saudi Arabia shut down the East-West onshore pipeline for two weeks following drone attacks that damaged pumping stations on September 10. The pipeline that helps the Kingdom bypass the Strait of Hormuz resumed partial service last Thursday, but full resumption of flows of about 4 million barrels per day (bpd) would likely take weeks. Still,…
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- What is COMEX gold?How to read USD/oz futures and relate them to jewelry quotes.
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