PILL: WAITING PRESENTS MORE CHALLENGES THAN ACTING ACTIVELY

Vitol Group is offering Iraqi Basrah crude to refiners via ship-to-ship transfers off Fujairah, suggesting some cargoes may have exited the Persian Gulf amid disruption at the Strait of Hormuz. The move marks a rare spot-market appearance for Iraqi barrels since war and blockade conditions constrained Gulf exports. SOMO has offered discounts as exports declined. Tanker data showed Agios Fanourios I U-turned and Kiara M completed transit and transferred cargo

HONG KONG SHARES OF BAIDU SET TO OPEN UP 6.98%