Saudi Arabia may re-route tankers if U.S. imposes crude import ban: sources [Yahoo! Finance News]
Marathon Petroleum Corporation (MPC)
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Source: Yahoo! Finance News
By Jonathan Saul, Devika Krishna Kumar and Olga YagovaLONDON/NEW YORK/MOSCOW Reuters) - Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.Some 40 million barrels of Saudi oil are on their way to the United States and due to arrive in the coming weeks, piling more pressure on markets already struggling to absorb a glut of stocks, according to shipping data and sources.U.S. officials have said in recent days that Washington is considering blocking Saudi shipments of crude oil, or putting tariffs on those shipments, adding to difficulties for the cargoes now on the water.Shipping sources said the kingdom tried to seek storage options for the cargoes from tanker owners when the ships were chartered last month, but many pushed back given booming rates and not wanting tied-up vessels.Two sources said Saudi Arabia was looking
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MPC
Earnings
- 11/6/24 - Beat
MPC
Sec Filings
- 11/13/24 - Form 4
- 11/12/24 - Form 3
- 11/5/24 - Form 10-Q
- MPC's page on the SEC website