Aramco looks at oil storage abroad as Strait of Hormuz jolts market

Saudi Aramco is looking at growing its oil-storage network worldwide after supplies were hit in the Strait of Hormuz, where the Iran war interrupted a key transit route for Gulf oil to global buyers.

Energy · Oil Industry · TADAWUL:2222.SR
Oil Prices Jump Above $100 as Iran Conflict Cuts Supply, G7 Holds Off on Reserves

Oil Prices Jump Above $100 as Iran Conflict Cuts Supply, G7 Holds Off on Reserves

Oil surged roughly 10% Monday, touching highs not seen since 2022. Brent climbed to $102.29 a barrel, with U.S. West Texas Intermediate at $100.11 by 10:53 a.m. EDT, as the expanding U.S.-Israeli conflict with Iran rattled Gulf supplies. Output cuts from Saudi Arabia and other Gulf producers continued, piling pressure while disruptions in Strait of Hormuz shipping lingered. The front month for Brent traded around $24 above six-month contracts — a sharp backwardation that points to immediate supply strains.
9 March 2026
··
Saudi stocks week ahead: Tadawul braces for Iran fallout, Hormuz risk and OPEC+ decision

Saudi stocks week ahead: Tadawul braces for Iran fallout, Hormuz risk and OPEC+ decision

Saudi shares open the week under renewed pressure, rattled by U.S. and Israeli attacks on Iran. Analysts are watching for any sign of de-escalation, but warn oil prices could jump fast if the conflict hits supplies. “Unless de-escalation signals emerge swiftly, we expect a significant upward repricing of oil at the start of the week,” said Jorge Leon, senior vice president and head of geopolitical analysis at Rystad Energy.
1 March 2026
····
Brent crude price slips on big U.S. stock build as Iran talks and OPEC+ loom

Brent crude price slips on big U.S. stock build as Iran talks and OPEC+ loom

Brent crude futures edged down on Wednesday, pressured by a U.S. government report showing crude inventories jumped much more than markets expected, dampening appetite sparked by Middle East tensions. Brent dropped 12 cents to $70.65 a barrel as of 1607 GMT. U.S. West Texas Intermediate slipped 26 cents, settling at $65.37. The Energy Information Administration posted a 16 million-barrel increase—analysts had looked for just 1.5 million. UBS's Giovanni Staunovo called the data “a bearish report,” though he noted the hit to prices was muted.
25 February 2026
·
Oil price holds near $68 as U.S.-Iran talks and Saudi cuts pull Brent, WTI

Oil price holds near $68 as U.S.-Iran talks and Saudi cuts pull Brent, WTI

Brent crude futures barely budged on Friday as traders awaited news from U.S.-Iran talks in Oman. Brent inched up 7 cents to $67.62 a barrel, while U.S. West Texas Intermediate also gained 7 cents, trading at $63.36 by 1055 GMT. Brent is on track for a 4.3% weekly drop—its first since mid-December. The Strait of Hormuz, through which about 20% of global oil passes, remains a focal point for any disruption concerns. “Investors are watching the U.S.-Iran talks,” said Tamas Varga, oil analyst at PVM. Capital Economics warned that geopolitical worries might give way to “weak fundamentals,” potentially driving prices down to $50 a barrel by the end of 2026.
6 February 2026
··
Saudi Stock Exchange (Tadawul) Update: TASI Ends Week at 10,526 as Oil, Banks and Year‑End Liquidity Shape the Next Trade

Saudi Stock Exchange (Tadawul) Update: TASI Ends Week at 10,526 as Oil, Banks and Year‑End Liquidity Shape the Next Trade

Saudi Arabia’s stock market is heading into its weekend pause with investors focused on three forces that have dominated recent sessions: softer oil, bank-heavy index performance, and thin year‑end liquidity. The Saudi Stock Exchange is closed on Fridays and Saturdays and reopens Sunday in Riyadh, meaning the next burst of price discovery will land while U.S. markets remain shut for the weekend. دراية المالية
27 December 2025
··
Saudi Economy Rockets: IMF Ups Forecast, 5% GDP Growth on the Table – and a Nobel Laureate Boosts Innovation

Saudi Economy Rockets: IMF Ups Forecast, 5% GDP Growth on the Table – and a Nobel Laureate Boosts Innovation

Saudi Arabia’s outlook brightened this week after the IMF lifted its 2025 GDP forecast to 4.0% Reuters. Reuters notes this upgrade is driven by faster-than-expected unwinding of OPEC+ oil cuts and rebounding output Reuters. IMF Middle East director Jihad Azour has warned that oil price recoveries significantly improve the Kingdom’s finances – each additional 1 million barrels/day adds ~3.2% of GDP to the fiscal balance Worldoil. In practical terms, breakeven oil prices remain high Worldoil, so the recent rise of Brent back toward ~$70 supports the budget.
29 October 2025
·
Follow on Google News
Add as preferred source Open in Google News