Abu Dhabi National Oil Co (ADNOC) has issued its seventh crude oil tender since June, offering cargoes for August-October loading. This comes amidst escalating shipping disruptions and fighting in the Middle East, which has caused spot premiums for Middle Eastern crude to rally to over one-month highs due to tightened supply. Buyers can load from various UAE ports or via ship-to-ship transfers. Continued tensions and rising oil prices could contribute to global inflationary pressures, potentially supporting gold as an inflation hedge and impacting Pakistan's import bill and USD/PKR stability.
بحوالہ / Source: www.brecorder.com