The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
On July 2, at least five supertankers carrying 10 million barrels of Saudi oil loaded from Ras Tanura exited the Strait of Hormuz. On the same day, Saudi Aramco announced its switch to spot pricing to accelerate sales in Asian markets. By July 6, Aramco had lowered its main oil prices for Asian buyers to rare discount levels.