Saudi Energy Ministry says limited fire at Aramco's Ras Tanura refinery, no impact on supplies
Newsquawk Staff ·
Saudi Energy Ministry says limited fire at Aramco's Ras Tanura refinery, no impact on supplies.
What it means
The minor fire at Aramco's Ras Tanura refinery is not expected to disrupt oil supplies, indicating stability in the market for now. However, traders should remain vigilant as any escalation could shift sentiment and impact oil prices, particularly if further incidents occur or if the geopolitical climate changes.
- Qatari mediators present Iran with a new draft deal in Tehran on Sunday, with Iran considering the proposal and a response expected by the end of the week, Reuters reports; Several countries would act as guarantors of the deal
- Ukrainian President Zelensky says Ukraine will not attack Russian ships carrying diesel for the US
- Netanyahu’s Likud Party to be largest in Knesset, reports Channel 12 Exit Poll; no clear winner in Israeli election
- US and Russia are discussing potential postwar business deals, including JV for US oil majors off Sakhalin and resumed sales via the Druzhba pipeline, as part of wider talks to end the war in Ukraine, reports FT citing sources
- Iranian President Pezeshkian, at a meeting with Russian President Putin, says there is no point in hoping for the US to resolve problems in the Middle East
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