Saudi Arabia Cancels Oil Cargoes After Pipeline Attack
Saudi Arabia cancelled some September crude shipments to Europe after drone attacks damaged its key Red Sea pipeline. The disruption pushed cargo prices above 120 dollars a barrel, prompting top buyers like Poland to seek alternative supplies.
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Saudi Arabia cancelled September crude shipments to Europe after drone strikes damaged its Red Sea export pipeline, pushing cargo prices above $120 a barrel. The attacks forced the kingdom to shut its East-West desert pipeline, disrupting flows that had bypassed the closed Strait of Hormuz. European buyers are now rushing to secure alternative grades as regional supply constraints tighten.
