Libya Was Quietly Filling the Hole Left by Hormuz and Saudi Outages — Its Own Oil Guards Just Shut Three Fields

Libya Was Quietly Filling the Hole Left by Hormuz and Saudi Outages — Its Own Oil Guards Just Shut Three Fields

Libya had become the disruption era’s quiet winner: output has climbed to roughly 1.4 million barrels per day, its highest level in more than a decade. That run stalls now. Operations at three oil fields were suspended after protesting members of the Petroleum Facilities Guard shut a valve on the Hamada-Zawiya crude export pipeline. The Guard said it would impose partial cuts for one week at Wafa, Al-Khamsa and El Feel, with a full shutdown to follow if demands aren’t met. With Hormuz and Saudi’s pipeline both compromised, one of the few remaining bypass barrels just handed itself to a labor dispute.

#Libya #CrudeSupply #OilSupply #ForceMajeure #OilGeopolitics

Saudi Arabia Just Cut Off Europe — Poland’s Refiners Are Scrambling for Crude at $120+ a Barrel

Saudi Arabia has cut oil shipments to Europe after drone attacks damaged its key export pipeline to the Red Sea, prompting top customers such as Poland to rush to seek alternatives as cargo prices topped $120 a barrel. Gdansk in Poland received around 160,000 bpd of Saudi crude this year to date, and Lithuania’s Butinge received 63,000 bpd. Orlen insists feedstock deliveries to its refineries are proceeding without disruption — but that’s a shelf-life measured in tanker transit days, not weeks, once Yanbu loadings stay dark.

#SaudiArabia #Europe #CrudeSupply #Poland #OilPrices

BofA Just Put $150 on the Table for Brent — the Same Day a Crude Build Argued the Rally’s Overdone

Francisco Blanch of BofA Securities says Brent could climb as high as $150 a barrel if critical infrastructure, like Saudi Arabia’s East-West pipeline, “is hit on a more permanent basis.” Traders aren’t waiting to find out: Brent fell toward $108 after rising 4% over two sessions, a gain that lifted its 14-day relative strength index above 70, a level that can signal a pullback. Add crude stocks that rose by 7.14 million barrels in the week ended Sept. 11, well above expectations for a decline, and the market is pricing two futures at once.

#OilPrices #CrudeSupply #OilForecast #StraitOfHormuz #RefiningMargins