Saudi Oil Flows Through Hormuz Remain High

Saudi Arabia's state-owned oil company, Saudi Aramco, has sold its heavier crude grades to Chinese refiners for a second time this month.

The sale is seen as a sign that flows through the Strait of Hormuz are likely to remain elevated.

Around 4 million barrels of Arab Medium and Heavy crudes were sold to PetroChina Co. for loading in September at locations just outside the strait.