UAE's Fujairah resumes oil loadings after drone strike, according to WSJ citing sources
Newsquawk Staff ·
UAE's Fujairah resumes oil loadings after drone strike, according to WSJ citing sources.
What it means
The resumption of oil loadings in Fujairah following a drone strike suggests a return to normalcy, which may ease immediate supply concerns in the oil markets. However, the underlying tensions prompting such strikes could indicate persistent risk around regional stability, affecting both pricing and demand sentiment in the short to medium term.
Sources
- 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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