👈 Reuters reports that Asian refineries are preparing to reduce supply and raise prices of high-sulfur crude oil

👈 Reuters reports that Asian refineries are preparing to reduce supply and raise the prices of high-sulfur crude oil, as they wait for clarification from Saudi Arabia. The move comes after the East-West pipeline was halted following Friday’s attacks.

Oil prices rose by about 3% on Monday, while Saudi Aramco has not yet provided updated information on allocations and shipping plans to customers.

Some refineries have been made aware of the possibility of delays in loading crude oil from Yanbu port in the Red Sea, though no new dates have been announced. Others also expect delays, as buyers compete to secure limited quantities of high-sulfur crude oil from Iraq, the United Arab Emirates, and other regions

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