The Next Major Oil Supply Shock Could Come From Saudi Arabia

AI Summary

Houthi attacks on Saudi oil infrastructure could disrupt production as Brent crude reaches $108 and the Brent-WTI spread widens. The article also reports sharply higher Asian LNG prices, driven by attacks on tankers and concerns about Europe’s winter outlook.

Houthi strikes on Saudi oil infrastructure threaten production as Brent crude hits $108 and the Brent-WTI spread widens to $5. The LNG Market Gets a New War Premium - Asian liquefied natural gas prices soared to their highest since December 2022, as repeated attacks on tankers across the Middle East and Europe’s worsening winter outlook pushed JKM above $30 per MMBtu. - Whilst China’s import giants – China and Japan – have been buying 8-10% less LNG year-on-year, seeking to maximize nuclear and renewable energy generation,…