Geopolitical risks fueled by Iran and US tensions reasserted itself after the former seized two Greek tankers, unsettling an already volatile oil market that has seen oil prices rise to two-month highs. On May 27, Iran detained two Greek-flagged and owned oil tankers – Delta Poseidon and Prudent Warrior in the Persian Gulf, some days .
Saudi Arabia has said it is no longer responsible for any shortages in oil supply because of attacks on its facilities. An S&P Global Commodity Insights analysis of missile and drone strikes on the kingdom’s infrastructure in the first quarter of 2022 suggests Riyadh’s warning is more than just scaremongering. The three months ending March .
Saudi Arabia, the world’s largest exporter of crude, said March 23 it had intercepted two “explosive-laden boats” in the Red Sea, through around 7 million b/d of crude transits to global markets. Two booby-trapped boats that set off from Yemen’s Hodeidah Governorate were intercepted “thwarting an imminent hostile attack in the southern Red Sea”, local .
Saudi Arabia’s cabinet affirmed on March 22 the essential role of the OPEC+ coalition of oil producers it heads with Russia, a day after its foreign ministry indicated the kingdom could not be responsible for meeting global supply shortages if terrorist attacks by Yemen’s Houthi rebels continue unabated. In a circular carried by state-run Saudi .
Saudi Arabia, the world’s largest exporter of crude, said March. 21 it no longer has “responsibility for any shortage in oil supplies to global markets in light of the attacks on its oil facilities,” according to a statement from the Ministry of Foreign Affairs reported by the official Saudi Press Agency. The announcement comes a .