Ice Brent crude futures fell in early Asian trading, erasing some gains made from the previous session.
The Ice front-month November Brent contract was at $108.03/bl at 04:00 GMT, down by 72¢/bl from its settlement on 15 September when it ended $3.07/bl higher.
The Nymex front-month October crude contract was at $104.74/bl, lower by $1.09/bl from its settlement on 15 September when it ended $4.44/bl higher.
Saudi state-controlled Aramco has cancelled or deferred term crude supplies to some European refiners that were scheduled to load in late September, according to market sources.
At least three European refiners have had cargoes cancelled or pushed from the final 10 days of this month to as late as November, the sources said. Two others expect to be notified of delays or cancellations to their September cargoes in the coming days.
One source said all Saudi cargoes scheduled to load in the final 10 days of September are at risk of being cancelled and added that around five days of Saudi crude inventories remain at the Red Sea port of Yanbu. This was not directly confirmed, and Aramco declined to comment.
The delays point to a prolonged outage on Saudi Arabia's 7mn b/d East-West crude pipeline, which has been shut since an attack on 10 September.
Iraq's state-owned oil marketer Somo recently issued a notice offering customers steep discounts on prompt cargoes of Basrah Heavy crude loading this month, according to sources familiar with the matter.
It is unclear how much interest Somo would be able to draw given limited traffic through the strait of Hormuz due to the ongoing escalation in US-Iran hostilities. Asian refiners had mostly preferred to secure Basrah cargoes on either a ship-to-ship (STS) transfer or delivered basis from international trading firms.
Ukrainian drones hit Russian state-controlled Rosneft's 200,000 b/d Syzran refinery on 15 September, Ukraine's military general staff said, a day after US president Donald Trump said he had an agreement from Kyiv that this type of attack would not happen.
This would be the fifth attack on Syzran this year, the most recent being on 8 August. Other Russian refineries hit recently in Ukraine's drone campaign include Rosneft's 140,000 b/d Saratov on 11 September and its 340,000 b/d Ryazan on 6 September. On 13 September, Ukrainian armed forces struck Tatneft's 341,000 b/d Taneko plant in Nizhnekamsk and independent Slavyansk-Eco's 70,000 b/d Slavyansk refinery, in the southern Krasnodar region.
Ice Brent crude futures fell in early Asian trading, erasing some gains made from the previous session.
The Ice front-month November Brent contract was at $108.03/bl at 04:00 GMT, down by 72¢/bl from its settlement on 15 September when it ended $3.07/bl higher.
The Nymex front-month October crude contract was at $104.74/bl, lower by $1.09/bl from its settlement on 15 September when it ended $4.44/bl higher.
Saudi state-controlled Aramco has cancelled or deferred term crude supplies to some European refiners that were scheduled to load in late September, according to market sources.
At least three European refiners have had cargoes cancelled or pushed from the final 10 days of this month to as late as November, the sources said. Two others expect to be notified of delays or cancellations to their September cargoes in the coming days.
One source said all Saudi cargoes scheduled to load in the final 10 days of September are at risk of being cancelled and added that around five days of Saudi crude inventories remain at the Red Sea port of Yanbu. This was not directly confirmed, and Aramco declined to comment.
The delays point to a prolonged outage on Saudi Arabia's 7mn b/d East-West crude pipeline, which has been shut since an attack on 10 September.
Iraq's state-owned oil marketer Somo recently issued a notice offering customers steep discounts on prompt cargoes of Basrah Heavy crude loading this month, according to sources familiar with the matter.
It is unclear how much interest Somo would be able to draw given limited traffic through the strait of Hormuz due to the ongoing escalation in US-Iran hostilities. Asian refiners had mostly preferred to secure Basrah cargoes on either a ship-to-ship (STS) transfer or delivered basis from international trading firms.
Ukrainian drones hit Russian state-controlled Rosneft's 200,000 b/d Syzran refinery on 15 September, Ukraine's military general staff said, a day after US president Donald Trump said he had an agreement from Kyiv that this type of attack would not happen.
This would be the fifth attack on Syzran this year, the most recent being on 8 August. Other Russian refineries hit recently in Ukraine's drone campaign include Rosneft's 140,000 b/d Saratov on 11 September and its 340,000 b/d Ryazan on 6 September. On 13 September, Ukrainian armed forces struck Tatneft's 341,000 b/d Taneko plant in Nizhnekamsk and independent Slavyansk-Eco's 70,000 b/d Slavyansk refinery, in the southern Krasnodar region.
By YouLiang Chay