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strikeSep 22, 2026

Saudis Signal Red Sea Oil Loadings Could Soon Resume For Asian Buyers

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Saudis Signal Red Sea Oil Loadings Could Soon Resume For Asian Buyers Bloomberg reports Saudi Aramco may restart crude loadings at Yanbu this week, raising hopes that the critical East-West pipeline route, which bypasses the Strait of Hormuz, could resume operations at half capacity after a drone attack disabled it. While no restart timeline has been confirmed, the overnight development adds to positive signs of progress toward resolving the global energy crisis after Brent slipped below $100 a barrel on reports that Iran offered to reopen the strait in exchange for an easing of US naval pressure and the US blockade of Iranian ports. However, Iran's semi-official Fars News Agency has denied reports from Kyodo and Reuters about reopening Hormuz, calling them "invalid and untrue." The report also said Aramco executives told at least three Asian refiners they could soon resume picking up crude at Yanbu on the Red Sea. Loadings at the Red Sea port have been halted since drone attacks launched from Iraq struck an East-West pipeline pumping station on September 10. The route had been carrying about 4 million barrels a day, providing Saudi Arabia with a valuable bypass around the Hormuz chokepoint. Some Asian and European buyers have already missed their loading dates, leaving vessels near Yanbu or still heading toward the port. The Saudis have ramped up crude tanker transits from Ras Tanura through Hormuz, with cargoes available for ship-to-ship transfers in the Gulf of Oman. Despite this morning's encouraging reports, Barclays analyst Amarpreet Singh warned that Brent prices may need to climb another 50% to bring supply and demand into balance if current disruptions persist. Inventory and consumption indicators suggest "prices have a long way to go before supply and demand converge," Singh wrote in the note. He pointed out that net Middle Eastern supply losses have narrowed to an estimated 4.7 million barrels a day, down from 12 million to 13 million at the start of the war. But months of disruption have left the market with inadequate buffers to protect against another big supply shock. Singh forecasts Brent at $95 a barrel in the fourth quarter of 2026, followed by $90, $85, $85 and $80 across the four quarters of 2027. The potential 50% increase represents an upside scenario if disruptions continue. Separately, UBS analyst Joe Dickinson told clients earlier that "Trump's approval ratings hit new lows and public Republican dissatisfaction continued to build ahead of the midterm elections. Polymarket is now pricing a 65% probability of a Democratic clean sweep, adding pressure on Trump to deliver tangible progress in negotiations over the conflict in the Middle East." Tyler Durden Tue, 09/22/2026 - 09:25

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  • Tyler DurdenBy Tyler Durden

    Saudis Signal Red Sea Oil Loadings Could Soon Resume For Asian Buyers Bloomberg reports Saudi Aramco may restart crude loadings at Yanbu this week, raising hopes that the critical East-West pipeline route, which bypasses the Strait of Hormuz, could resume operations 


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Trump heaps praise on Middle East leaders at UN meeting on Iran war

Submitted by Yasmine El-Sabawi on Tue, 09/22/2026 - 20:54

No substantive outcome was announced from the US president's gathering with regional stakeholders

US President Donald Trump meets with Arab and Muslim leaders on the sidelines of the United Nations General Assembly in New York City on 22 September 2026. From left to right: Prime Minister of Iraq, Ali al-Zaidi; President of Turkey Recep Tayyip Erdoğan; King of Jordan Abdullah II; Trump; Qatari Emir Tamim bin Hamad al-Thani; President of Syria Ahmad al-Sharaa; and Prime Minister of Egypt Mostafa Madbouly (Chip Somodevilla/Getty Images via AFP) Off US President Donald Trump held a highly anticipated meeting with Arab and Muslim leaders on the sidelines of the United Nations General Assembly on Tuesday, where he showered high praise on the officials but left the meeting with no major announcements on the turmoil in the region.

Shortly before his meeting on Tuesday, Trump confirmed to reporters that his envoys had sat down with Iranian officials for a three-hour discussion, as all sides seek a face-saving off-ramp from the war.

"They had a very good meeting, a very productive meeting," he said. "They have another one scheduled in the very near future."

As he later sat down with regional stakeholders, Trump credited his negotiators, special envoy for peace missions Steve Witkoff, and Trump's son-in-law, Jared Kushner, who has no official role in the administration, as having led the talks.

"We'll see what happens with that... We've been mediating for a while, but I think there's a lot of momentum for them to make a deal. That's what we're hearing from everybody," Trump said.

This year, the US president was flanked by Jordan's King Abdullah; Qatar's Sheikh Tamim; Turkish President Recep Tayyip Erdogan; Syrian President Ahmed al-Sharaa; Iraqi Prime Minister Ali al-Zaidi; Egyptian Prime Minister Mostafa Madbouly; Lebanese Prime Minister Nawaf Salam; and Kuwaiti Crown Prince Sabah Khaled al-Hamad al-Sabah.

So far, Trump has reserved his highest praise at the UNGA for this particular group of leaders.

"It's an honour to be here with some of America's greatest and closest friends, allies, and partners to continue our effort toward a safer and more prosperous Middle East," the president said. "Special place, and it's become more special over the last period of time since I've been in politics... I've got a lot of great friends sitting around this table. They're amazing people, and we make sure their lives are good."

Every nation at the table around him, he added, "has been outstanding", and Trump thanked them for what he said has been some $21 trillion in US investments from them since he came into office in January 2025.

'We are settling years of unfinished business': Trump talks up Iran, Gaza, Latin America strategy Read More »

He particularly thanked Erdogan, with whom he has shared a close friendship since his first term in office, and called him a "fantastic guy" and a "tough cookie".

"Don't mess around with him," Trump joked, as the other leaders around him laughed.

This is the second year in a row that Trump has held such a meeting, though last year's gathering on the sidelines of the UNGA included some of the world's most populous Muslim nations, Pakistan and Indonesia, and largely focused on enacting a ceasefire in Gaza.

That ceasefire went into effect some three weeks later, but Israel has continued to carry out several air strikes on the enclave every week.

This year, Iran is in sharp focus, as these regional leaders deal with the literal blows from Iran's retaliatory actions against US interests.

"Operation Epic Fury crippled Iran's Navy... Eliminated its air force. They have no planes. Hit over 90 percent of its weapons factories and destroyed 450 ballistic missile storage facilities and 800 drone storage facilities," Trump said of the US-Israeli war that began on 28 February.

"We may have to blow up another one, Pickaxe Mountain," he warned. "We're not seeing a lot of activity there, but if we do, we'll blow it up immediately."

The leaders in the room maintained a stoic look. They did not address the reporters who were ushered out after Trump's remarks.

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Update Date Mon, 05/04/2020 - 21:19

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