Saudi Oil Shipments Dry Up Amid US-Iran Conflict

US imports of Saudi Arabian oil dropped to zero in July for the first time since 1985, according to preliminary government data.

This significant decline comes as the US-Iran conflict has disrupted Persian Gulf crude flows for months, effectively halting US-bound shipments of Saudi oil last month.

Earlier this year, US refiners were purchasing over 800,000 barrels of Saudi oil per day, making this a substantial decrease in imports.