In a rare move, Saudi Aramco has announced a tender for the purchase of between 1.2 and 4.6 million barrels of low-sulfur diesel fuel, adding pressure on an already tight market. Bloomberg cited unnamed traders familiar with the move as commenting that it is not a usual thing for Aramco to do since the state oil giant is normally a net exporter of the fuel.
The news comes as the already tight diesel fuel market was shaken by Western sanctions against Russia, which resulted in a sharp increase in prices as supply certainty went through the window.…Shell Is Betting Big On Offshore Wind Following UK Ban On Russian Oil
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