A Saudi east–west pipeline outage has forced European refiners to compete for replacement barrels, lifting spot crude premiums and raising procurement costs. After an attack on a pipeline to the Red Sea, Aramco is seeking to increase shipments via the Strait of Hormuz; this week Asian buyers purchased tens of millions of barrels of Saudi crude near the strait, leaving those barrels farther from Europe. Aramco has told European customers it cannot meet some long‑term contract deliveries next mont

A Saudi east–west pipeline outage has forced European refiners to compete for replacement barrels, lifting spot crude premiums and raising procurement costs. After an attack on a pipeline to the Red Sea, Aramco is seeking to increase shipments via the Strait of Hormuz; this week Asian buyers purchased tens of millions of barrels of Saudi crude near the strait, leaving those barrels farther from Europe. Aramco has told European customers it cannot meet some long‑term contract deliveries next month. On Friday North Sea spot premiums jumped to record levels; traders said Norway’s Johan Sverdrup grade—close in quality to Saudi crude—was bid up to $35/bbl over Brent spot, versus about $0.60/bbl two weeks earlier. The spot rally indicates European refiners are paying up to secure supply and maintain run rates amid fuel tightness; regional diesel has risen above $200/bbl.