Russell Hardy, CEO of the world’s largest independent oil trader, Vitol Group, said at the Energy Intelligence Forum in London that there are no longer any oil stocks in the West that can be used. According to him, the fuel shortage in markets in winter is likely to persist, and a shortage of tankers and logistical problems will intensify tensions and support a scenario with prices up to $200 per barrel.

#G7 #SaudovskajaAramko #Vitol #InternationalEnergyAgency #StraitofHormuz #PersianGulf

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Saudi Arabia resumed operation of the East-West pipeline («East — West»), which was suspended after the drone attack on September 10. Reuters, citing sources, reports that pumping is proceeding at a reduced rate, and oil exports through the port of Yanbu on the Red Sea may resume as early as Tuesday, September 22.

#EastWest #SaudiAramco #Iraq #InternationalEnergyAgency #SaudiArabia #Houthis

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