21 January 2025: 16:30 GMT
Aramco bought Midland in the window. Wow, why are the Saudis buying crude in the North Sea? Not Aramco, says a Saudi source, getting technical. The deal was done by Aramco Trading, ah, we get it, the other arm of the same one. 🤣 Juicy, unusual bits always pique our interest. Our sources report the cargo is going to Denmark’s Kalundborg refinery.
Meanwhile, our Indian friends report continued buying interest despite high prices. State linked refineries freaked out with Biden’s sanctions and tried to cover too early, leading to the previous surge. Apparently, the Chinese acted faster putting some state buyers in a bind. And after shipping sanctions, the Indian state companies are bidding for long term supply with freight included. But sources in the know think long-term deals will be done without the freight component.
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