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Overseas Buyers In Hot Pursuit of US Crude as Wars Escalate

Bloomberg Markets Thursday 23 July 2026, 21:17 UTC By Lucia Kassai and Christopher Charleston 1 min read
Key Points

Overseas Buyers In Hot Pursuit of US Crude as Wars Escalate An uptick in Asian and European demand for US crude is among the first signs of mounting concerns over adequate oil supplies amid multiplying geopolitical flashpoints. Attacks against two Saudi oil tankers by Iran-backed Houthi rebels in the Red Sea added a new layer of volatility to the Iran conflict, sending the international benchmark above the $100-a-barrel mark. Meanwhile, Kazakhstan reduced oil output after Ukrainian drone...

Overseas Buyers In Hot Pursuit of US Crude as Wars Escalate An uptick in Asian and European demand for US crude is among the first signs of mounting concerns over adequate oil supplies amid multiplying geopolitical flashpoints. Attacks against two Saudi oil tankers by Iran-backed Houthi rebels in the Red Sea added a new layer of volatility to the Iran conflict, sending the international benchmark above the $100-a-barrel mark. Meanwhile, Kazakhstan reduced oil output after Ukrainian drone attacks on Black Sea shipping, prompting buyers to seek out similar grades of crude that include supplies from the Permian Basin.
Asian (ORG) European (ORG) US (LOCATION) Saudi (ORG) Iran (LOCATION) Houthi (ORG) the Red Sea (LOCATION) Kazakhstan (LOCATION) Ukrainian (ORG) Black Sea (LOCATION) the Permian Basin (LOCATION)
Originally published by Bloomberg Markets Read original →

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