Saudi Aramco cuts Asia oil supply for second month in April — Reuters
Saudi Aramco, the world's top oil exporter, cut crude supply to Asian buyers for a second month in April after the US-Israeli war with Iran disrupted trade via the Strait of Hormuz, Reuters reported on Monday.
The source said that the producer is supplying only Arab Light crude exported from the Red Sea port of Yanbu to term customers in April, keeping supplies to Asian refineries tight and capping their refined products' output.
Market reaction
At the time of writing, the West Texas Intermediate (WTI) is up 0.75% on the day at $97.93.
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