Arab nation sells crude on spot market
Commercial sources have reported that the Emirati company ADNOC is offering crude oil shipments for sale in the spot market as part of the seventh tender since the beginning of June, with bids for loading between August and October. The company confirmed that offers with reduced price margins will be automatically rejected, and the deadline for submitting bids is July 27, with the offers remaining valid until July 29. This move comes amid escalating tensions between the United States and Iran, following attacks on two Emirati tankers in the Strait of Hormuz, reflecting concerns over potential disruptions to oil supplies.
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