Red Sea Disruptions Force Saudi Aramco to Slash Prices

Logistics have been pushed to the forefront of oil trade as Houthi missile and drone attacks continue to disrupt navigation through the Red Sea and the Suez Canal. The list of companies avoiding the Bab el Mandeb Strait and the Red Sea keeps on expanding with each passing day, ranging from oil majors like BP or Shell and all the way to Asian refiners such as the UAE’s ADNOC or India’s Reliance. Whilst the oil exports of Middle Eastern crude producers to Asia have not been impacted so far by any strikes, reaching the Atlantic Basin is…