Saudi Arabia to store crude oil in Singapore to bolster Asia supply security - Reuters
Saudi Arabia to store crude oil in Singapore to bolster Asia supply security - Reuters
Source: Reuters
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DW NOTE
Saudi Arabia is storing crude in Singapore because the Strait of Hormuz is closed. When you can't get oil through the choke point, you pre-position it on the other side. This is supply security in the narrowest possible sense: physical barrels in place before the next ship gets hit.