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Oil Rally Threatened As China Reportedly Offers To Buy Aramco Stake Directly

Amid confusion over whether the massive Saudi Aramco IPO is on hold until 2019, or permanently shelved in favor of a private placement, Reuters suggests the latter is now more likely as 'sources familiar with the matter' say China is offering to buy up to 5 percent of Aramco directly (offering the Saudis the lack […]


25 Oil Tankers Stuck In Gulf, Unable To Offload Due To Harvey Port Closures

According to ship-tracking data compiled by Bloomberg, coupled with MarineTraffic real-time tracking, at least 25 tankers carrying almost 17 million barrels of imported crude oil are drifting near Texas and Louisiana ports, unable to offload because of closures from Tropical Storm Harvey. Source: MarineTraffic A Bloomberg further details, 20 Aframaxes, 3 VLCCs, 2 Suezmaxes are […]