On Friday, it was reported that Saudi Aramco—Saudi Arabia’s state-owned oil conglomerate—would be pausing oil shipments to some customers next month. According to Bloomberg, Saudi Aramco told at least two European refining customers it would not send them any crude oil in October. The move comes after escalating attacks on Saudi oil infrastructure, including a strike that shut down the vital East-West pipeline last week.
Also on Friday, two tankers were reportedly struck by projectiles while transiting the Strait of Hormuz. Iran’s Islamic Revolutionary Guard Corps has taken responsibility for one of these attacks, which it says came after a Togo-flagged vessel attempted an “illegal passage” through the waterway.
In Iran, nationwide rallies intended to show support for the regime drew hundreds of thousands of participants on Friday, according to Iranian media outlets. The government-organized events collectively constitute the largest public demonstration in Iran since the war began nearly seven months ago.
Brent crude oil was trading at around $104 per barrel this morning. AAA reports that the average price of regular gasoline in the United States is $4.47 per gallon—nine cents below the highest level reached this year ($4.56 per gallon, recorded on May 21).
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