▼ Bearish for Indian equities
Aramco CEO says less than 10% of world oil inventory is available
The brief
- Aramco CEO Amin Nasser said less than 10% of the world's oil inventory is available
- Rebuilding inventories after the crisis could take up to two years, he warned
- Tight global oil stocks could raise crude costs for Indian refiners and fuel-sensitive sectors
- Saudi Aramco cuts November oil price to Asia to a six-year low
- Brent climbs to $103 after Houthi attacks on Saudi energy facilities
- Oil Swings to Loss as Deep Saudi Price Cut Offsets Yemen Concern
- Houthis claim strike on Saudi Aramco facility as Yemen fighting intensifies
- Yemen’s Houthis say they attacked Aramco facility in Riyadh with missiles, drones
Middle East oil flows recover amid Hormuz risks
Middle East crude flows recovered to pre-war levels and later exceeded them, while fuel shipments faced constraints. Renewed tanker attacks and shipping risks persisted as Saudi Arabia restored pipeline capacity and sought alternative routes.
Monday, 5 October
- Aramco CEO says less than 10% of world oil inventory is available