Saudi Aramco has cut Arab Light crude prices for Asian buyers by $11 per barrel for August deliveries, the largest single-month price reduction in at least 26 years, as the Strait of Hormuz reopens, Brent retreats to $72, and a global supply surge shifts market power sharply toward buyers.
Read Full ArticleIndia began reducing Russian oil imports months before the U.S. imposed a 25% tariff, with data showing a broader diversification strategy already underway.
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