Smoke reported after strike on Bahrain's Babco oil refinery.
Newsquawk Staff ·
Smoke reported after strike on Bahrain's Babco oil refinery.
What it means
The report of smoke from a strike on Bahrain's Babco oil refinery raises concerns about potential supply disruptions in the region, which could impact crude oil prices, particularly WTI. This situation may escalate geopolitical tensions, prompting traders to monitor risk sentiment and the broader implications for energy markets and haven assets.
- 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
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
- US President Trump says believes I will visit tanker in Texas with Venezuela oil; thinks Secretary of State Rubio will be with him; we are going to accept 1mln bbls of Venezuelan oil
- 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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