According to Reuters, Saudi Arabia is increasing crude oil shipments to Asian refiners via ship-to-ship transfers at the port of Sohar in Oman, located outside the Strait of Hormuz, to mitigate supply disruptions caused by attacks on pipelines transporting oil between the East and Red Sea.
The report stated that Saudi Aramco has offered its flagship Arab Light crude, along with Arab Medium and Arab Heavy crude, to long-term Asian buyers for loading at the Sohar port, indicating the company is moving more crude out of the Persian Gulf and onward beyond the Strait of Hormuz.
Satellite tracking data shows that over the past week, Saudi Aramco has doubled its daily crude loading volumes at its Ras Tanura and Jubail terminals in the Gulf to approximately 4 million barrels.
Giovanni Staino, an analyst at UBS, said in a report: “News about Saudi Arabia’s exports from the Gulf region suggests growing relief over concerns of potentially more severe trade disruptions.”
WTI prices pulled back from above 105 to the 100/101 range; Brent crude also fell from around 110 to 100/105. As crude prices stabilized, longer-dated U.S. Treasury yields retreated, supporting a rebound in both gold and the Nasdaq.
U.S. media reported that Trump will meet next Tuesday (September 22) with leaders of six Gulf countries—Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, and Oman—during the United Nations General Assembly in New York to discuss arrangements for the next phase of the war.
Plugin Case Examples
Gold: After our plugin signaled a breakout above 4335 yesterday, we placed a buy limit order in the blue zone, achieving a nearly 4:1 risk-reward ratio—an excellent outcome. Today, continue monitoring whether momentum in the blue zone remains strong or wait for a pullback to the yellow zone before seeking a rebound signal.
(Gold 15-minute chart)
Nasdaq: Yesterday, our plugin indicated a breakout followed by a retest buy entry in the blue zone. The entry point was just 15 basis points off, but price action moved exactly as expected. Continue watching for Nasdaq rebound signals today, but wait until after liquidity clears before entering.
(Nasdaq 15-minute chart)
Crude Oil: Prices have gradually declined into the 101/102 range, currently consolidating sideways. Market direction is entirely driven by news developments. Watch closely for outcomes from Trump’s meeting with the six Gulf nations next Tuesday. For now, maintain a cautious, watch-and-wait approach.
(Crude Oil 15-minute chart)
