India's Mangalore Refinery & Petrochemicals informed customers it will be suspending oil product exports, Bloomberg reports citing sources; amid the Middle East conflict
Newsquawk Staff ·
India's Mangalore Refinery & Petrochemicals informed customers it will be suspending oil product exports, Bloomberg reports citing sources; amid the Middle East conflict.
What it means
Mangalore Refinery & Petrochemicals' suspension of oil product exports signals significant supply disruption amid the ongoing Middle East conflict. This action could tighten supply in the commodities market, particularly affecting WTI prices, and may exacerbate inflation concerns in energy-dependent sectors.
Sources
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
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