Oil Cargoes Top $130 Amid Saudi Pipeline Disruptions — SkimNews
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- Physical oil cargoes topped $130 a barrel, nearing April's record, driven by Saudi disruptions (Reuters).
- Saudi Arabia offered more crude via Oman loading after pipeline attacks and faces a "worst-case scenario" after Iran's attacks and Trump's rebuffs (Reuters, NYT).
Why it matters: With physical cargoes at $130 and pipeline attacks forcing Saudi rerouting through Oman, traders are paying near-record premiums for immediate delivery while Saudi Arabia confronts what the NYT labels a 'worst-case scenario' following Iran's attacks and Trump's rebuffs — a rare convergence of infrastructure damage and diplomatic isolation hitting supply simultaneously.
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