Saudi Aramco Shifts Asia Crude Allocations Amid Mideast Hostilities, Supply Uncertainty

Saudi Aramco has moved to an ad hoc allocation system for September crude to some Asian customers, a direct result of ongoing hostilities around the Strait of Hormuz and Red Sea. This disruption makes it difficult for buyers to secure vessels and lift contractual volumes, leaving Chinese and other Asian buyers facing significant uncertainty. This operational shift by the world's largest oil exporter could push crude oil prices higher, potentially increasing safe-haven demand for gold and adding pressure on Pakistan's import-dependent economy and the PKR.

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