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Msg  423808 of 426701  at  5/16/2019 7:19:22 AM  by

sandgrey


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(BFW) OIL MKT DRIVERS: Saudis Accuse Iran; Russian Oil Heads to China
OIL MKT DRIVERS: Saudis Accuse Iran; Russian Oil Heads to China
2019-05-16 11:04:28.42 GMT


By Alex Longley
(Bloomberg) -- Summary of what’s shaping the oil market on
Thursday: Saudi Arabia accused Iran of orchestrating the drone
attack on its oil infrastructure earlier this week. Russian oil
that loaded during the contamination crisis is sailing for
China. Equities edged higher.
* Saudi Arabia accused Iran of ordering the drone attacks by
Yemen’s Houthi rebels against its oil facilities earlier this
week
** Iraq’s oil minister denied reports that Exxon had withdrawn
staff from the nation, amid ongoing tensions in the region
* A Suezmax laden with Russian oil from Ust-Luga is sailing for
China after conducting ship-to-ship transfers; both Aframaxes
loaded at Ust-Luga during the recent contamination crisis,
fixture lists and tracking data show
** Transneft said it is ready to compensate actual damage from
any contaminated oil supplied
* Equities in Europe rose, as did U.S. futures, despite
President Trump’s decision to curb Huawei’s access to the
American market
* Output at Kazakhstan’s giant Kashagan oil field will reach
370k b/d in July
* Mexico will cut the fuel oil element of its annual oil hedge
as a result of impending IMO 2020 rules; the country is working
on a new formula for pricing its crude, Pemex’s CEO said


To contact the reporter on this story:
Alex Longley in London at alongley@bloomberg.net
To contact the editors responsible for this story:
Alaric Nightingale at anightingal1@bloomberg.net
Christopher Sell, Brian Wingfield


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