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Oil Markets Stable Despite Saudi, Moscow Attacks: Why No Adverse Reaction?
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CNBC TV18•21-09-2026, 05:24
Oil Markets Stable Despite Saudi, Moscow Attacks: Why No Adverse Reaction?
- •Crude oil prices, including Brent and WTI, remained stable despite weekend attacks in Saudi Arabia and a drone strike on the Moscow oil refinery.
- •Saudi Arabia issued air-raid alerts for Riyadh and Red Sea hubs, while Ukraine's drone attack hit the Moscow Oil Refinery, which has a capacity of 245,000 barrels per day.
- •The subdued market reaction is attributed to potential US-Iran talks, with President Trump open to meeting Iranian President Masoud Pezeshkian at the UN General Assembly.
- •Qatar's Prime Minister confirmed ongoing communication between parties regarding the June MoU, which includes conditions like ending war and unfreezing Iranian assets.
- •Increased oil and LNG shipments through the Strait of Hormuz, reaching a six-month high, and Saudi Aramco loading multiple supertankers also contributed to market stability.
Key Questions Answered
Oil markets remained subdued due to several factors, including US President Donald Trump expressing openness to meeting Iran's President Masoud Pezeshkian, ongoing communication channels between parties, and reports that oil and LNG shipments through the Strait of Hormuz hit a six-month high.
Saudi Arabia issued air-raid alerts for Riyadh and Red Sea hubs like Yanbu with explosions near King Khaled Airport, while Ukraine launched drone attacks on the Moscow Oil Refinery as part of a major offensive on Russian energy infrastructure.
Iran's conditions to return to the June MoU include the ending of the war on all fronts, the unfreezing of its frozen assets, and the removal of the naval blockade around Iranian ports.
