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Saudi Aramco says its Yanbu South terminal on the Red Sea now adds 3 million barrels per day of western export capacity after rehabilitation. The company's current export capacity is 12.5 million bpd, and it plans to expand the Muajjiz terminal to 15 million bpd.
Alternative Red Sea export routes reduce the risk of a Strait of Hormuz disruption, which trims geopolitical risk premium in crude and eases energy input costs for feed producers.
thenationalnews.comJennifer GnanaOct 17, 2018After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
