Market brief · Economy & rates

Saudi Aramco Cancels European Crude Cargoes as Key Pipeline Stays Shut

Saudi Aramco has canceled or delayed crude deliveries to European refiners after the shutdown of the kingdom’s East-West pipeline cut into one of its remaining routes around the Strait of Hormuz. At least three European refiners have had late-September cargoes canceled or pushed as far out as November, according to market sources cited by Argus. Two more expect notices covering September supplies. The 7-million-bpd East-West pipeline has been offline since a September 10 attack. The pipeline carries crude from eastern Saudi oil fields to…