Julian Lee

(Bloomberg) -- A very large crude carrier has made a U-turn in the southern Red Sea after warnings from Houthi rebels in Yemen that they would target ships heading to or from Saudi ports.

Deliveries of Russian crude oil to India so far this month remain near June’s record

India has emerged as a key buyer of Russian crude, with imports from Moscow reaching record levels as refiners take advantage of cheaper oil and supply disruptions from the Middle East. More than 2.3 million barrels per day of Russian crude was delivered to Indian ports in June, with July flows remaining close to that level.

A tank at Saudi Aramco’s Jazan oil refinery appeared to be on fire in satellite images taken after Yemen’s Houthis claimed to attack the plant over the weekend.

Oil traders pored over satellite images that showed smoke appearing at several Saudi oil facilities over the past 48 hours, but the data offered few clues as to whether the kingdom’s energy production had been impacted by recent attacks from Iran-backed militias.

At least six tankers are lined up to navigate the Arctic ice, while crude deliveries to Egypt are further reducing Russian oil traffic through the troubled Red Sea

Summer is traditionally the season for unwinding—basking in the sun, enjoying backyard BBQs, a few beers and reconnecting with family and friends.

Saudi Arabia’s observed crude oil exports edged lower in July as the kingdom’s shipments were held back by threats to vessel traffic in both the Persian Gulf and the Red Sea.

Ukraine’s switch to attacking tankers lets plants process more crude, ship less abroad

OPEC’s crude oil production recouped some more of its wartime losses last month with gains in Kuwait, Saudi Arabia and Iraq, though opaque shipping data complicated the process of tracking the group’s output, a Bloomberg survey showed.