Europe Oil Supply Pressure Mounts After Attack Cuts Saudi Sales - Bloomberg
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European oil refiners are paying record premiums for crude cargoes as Saudi Arabia's East-West pipeline shutdown forces the region to scramble for alternative supplies. While Saudi Aramco redirects shipments through the Strait of Hormuz to Asian buyers, European markets find themselves further from available supplies at a critical time of global tightening.
North Sea Oil Premiums Soar to Records as Saudis Cut Sales - Bloomberg
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North Sea Oil Premiums Soar to Records as Saudis Cut Sales
*Saudi Arabia's East-West pipeline following an attack, on Sept. 13.
Source: Vantor*
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By Alex Longley, Sherry Su, and Anthony Di Paola
September 18, 2026 at 2:50 PM EDT
Updated on
September 18, 2026 at 4:51 PM EDT
Europe’s oil refiners are paying eyewatering premiums for cargoes, as the shutdown of Saudi Arabia’s East-West pipeline forces the region’s buyers to scramble for alternatives with fuel prices soaring.
Saudi Aramco has responded to the attack on its pipeline to the Red Sea by seeking to ramp up shipments through the Strait of Hormuz, with buyers in Asia this week snapping up tens of millions of barrels of Saudi oil from just outside the strait. But the shift also means that those cargoes are emerging further away from desperate European refiners, at a time when markets were already tightening as Chinese purchases and disruptions in Hormuz eat away at global stockpiles.
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US Edition
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LIVE NOWBloomberg This WeekendWatch
War With Iran:
Latest
Crucial Saudi Pipeline
Diesel Supply Loss
Jet Fuel Prices
Houthi Risks
Growing Price Tag
Industries
Energy
North Sea Oil Premiums Soar to Records as Saudis Cut Sales
*Saudi Arabia's East-West pipeline following an attack, on Sept. 13.
Source: Vantor*
Contact us: Provide news feedback or report an error
Confidential tip? Send a tip to our reporters
Site feedback: Take our Survey
By Alex Longley, Sherry Su, and Anthony Di Paola
September 18, 2026 at 2:50 PM EDT
Updated on
September 18, 2026 at 4:51 PM EDT
Europe’s oil refiners are paying eyewatering premiums for cargoes, as the shutdown of Saudi Arabia’s East-West pipeline forces the region’s buyers to scramble for alternatives with fuel prices soaring.
Saudi Aramco has responded to the attack on its pipeline to the Red Sea by seeking to ramp up shipments through the Strait of Hormuz, with buyers in Asia this week snapping up tens of millions of barrels of Saudi oil from just outside the strait. But the shift also means that those cargoes are emerging further away from desperate European refiners, at a time when markets were already tightening as Chinese purchases and disruptions in Hormuz eat away at global stockpiles.
Before it's here, it's on the Bloomberg Terminal
HomeBTV+Market DataOpinionAudioOriginalsMagazineEvents
News
MarketsEconomicsTechnologyPoliticsGreenCryptoAI
Work & Life
WealthPursuitsBusinessweekCityLabSportsEqualityManagement & Work
Market Data
StocksCommoditiesRates & BondsCurrenciesFuturesSectorsEconomic Calendar
Explore
NewslettersExplainersPointed News QuizAlphadots GameThe Big TakeGraphicsSubmit a TipAbout Us
Terms of ServiceTrademarksPrivacy Policy
CareersAdvertise
Ad Choices
Help©2026 Bloomberg L.P. All Rights Reserved.
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Tags:#النفط#السعودية#أوروبا#مضيق هرمز#الطاقة#الاقتصاد
Source: Bloomberg
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