Saudi Arabia reportedly sells nearly 100000000 barrels of crude oil to Asia and assumes transportation risk; Hormuz shipping remains uninterrupted
According to informed traders, Saudi Arabia has sold nearly 100000000 barrels of crude oil to Asian buyers since the middle of last week, with deliveries concentrated from October to November, with Saudi Aramco handling the transportation arrangements. Shipping through the Strait of Hormuz has not been interrupted, but freight rates have risen significantly.