EnergyReader · 2026-08-02 08:53

Saudi Arabia Slashes Asian Prices as Chinese Refiners Shun August Cargoes

By EnergyReader Newsroom · August 2, 2026

Mirae Asset's Mohammed Imran held a bullish crude oil outlook on Friday (2026-07-31) while cautioning that a Strait of Hormuz disruption lasting to mid-September could push ICE Brent crude to average $90 per barrel by year-end — a scenario framed as a tail risk, not a base case. Dubai crude was last observed at $76.75 per barrel as of Sunday (2026-08-02), well below that stress scenario and broadly in line with his $80 base if the conflict does not extend.

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Saudi East-West Pipeline Struck by Drones, Repairs Could Take Weeks 4h ago · Saudi Arabia same market Petroline shutdown concentrates Saudi export risk as oil traders weigh repeated ceasefire selloffs 8h ago · Saudi Arabia same market Gasoil Up 232%, Brent Up 117%: Distillate Returns Signal Deeper Hormuz Damage Than Crude Futures Show 56m ago · Brent via Saudi Crude Production / OP… Wartime Energy Prices Weigh on Green Investing as ICE Brent Holds Above $107 2h ago · Brent via Saudi Crude Production / OP… JERA and Petronas CEOs Tell Markets Asia Needs More LNG as Data Centre Demand Builds 2m ago · JERA same desk Energy leaders at Gastech warn Hormuz deal will not quickly restore global LNG supply 4h ago · Strait of Hormuz same desk

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