Oman’s Mina Al Fahal crude export terminal has resumed normal operations after a temporary halt earlier Thursday, with loading activities now proceeding as usual, according to reports
Newsquawk Staff ·
Oman’s Mina Al Fahal crude export terminal has resumed normal operations after a temporary halt earlier Thursday, with loading activities now proceeding as usual, according to reports.
What it means
Oman's Mina Al Fahal crude export terminal resuming normal operations after a temporary halt is significant as it alleviates concerns regarding supply disruptions in the region. The immediate read-through for crude prices could be stabilization in WTI and Brent, as the market tends to react to potential supply chain interruptions. Overall, this development reinforces the status quo for oil supply, which may ease upward pressure on prices in the near term.
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
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- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects
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