Saudi Arabia Cuts European Crude Next Month — SkimNews
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- Saudi Arabia informed European refiners they will receive zero crude oil allocations next month, according to Bloomberg.
- Houthis, Iranian-backed rebels who recently seized a Red Sea city, are now eyeing the oil-rich east — a development The Nation reports is rattling global energy markets.
Why it matters: European refiners face a zero-allocation from Saudi Arabia next month at the same moment Iranian-backed Houthis are advancing toward oil-rich eastern territory after seizing a Red Sea city, developments The Nation reports are already rattling global energy markets.
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