Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Commodities

Saudi Denies Buying Oil Tankers Amid Regional Conflict Fallout

Guavy AI Editorial Team
Instruments
Oil
Share

Saudi Arabia's Ministry of Energy has denied allegations that it purchased 25 oil tankers worth an estimated $4.5 billion, sparking a public disagreement with Iraq.

Iraqi Oil Minister Basim Mohammed claimed during a parliamentary session on Monday that Saudi Arabia had bought the tankers, leading to a sharp increase in shipping costs for Iraqi crude from $26 per barrel to $37 per barrel.

Saudi Arabia countered that the higher shipping costs are due to several factors, including the ongoing military conflict in the region and disruption to shipping through the Strait of Hormuz, which has been attacked by Iran.

More on Commodities

Commodities just now

Asian Wheat Buyers Face 20-25% Price Hike Amid Black Sea Disruptions

Commodities 1m ago

Wheat Market Experiences Subdued Reaction Amid Stalled Exports

Commodities 1m ago

Global Food Security Hangs by a Thread as Russia Continues to Attack Ukraine

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy