The fire at Saudi Aramco's oil depot is under control, Sky News Arabia reports
The report that the fire at Saudi Aramco's oil depot is under control suggests a swift resolution to a potential supply disruption.
Saudi Arabia's Ras Tanura refinery shuts down after a drone strike, Bloomberg reports
Gulf Keystone temporarily shuts in output operations in Shaikan field
The fire at Saudi Aramco's oil depot is under control, Sky News Arabia reports
German Retail Sales MoM (Jan) M/M -0.9% vs. Exp. -0.2% (Prev. 0.1%)
German Retail Sales YoY (Jan) Y/Y 1.2% (Prev. 1.5%)
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This development is likely to mitigate concerns surrounding oil prices, particularly for WTI, which may stabilize after any initial volatility. Overall, it reflects positively for energy markets, reducing the risk premium associated with supply interruptions.
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