Qatar Sells Al-Shaheen Crude to Formosa as US-Iran Deal Revives Gulf Oil Flows

1 articles · Updated · Bloomberg · Jun 25

Qatar sold a cargo of Al-Shaheen crude this week to Taiwan’s Formosa Petrochemical Corp. for August-September delivery, marking another step in the Gulf’s return to Asian spot markets.
The sale follows the US-Iran interim peace deal, which has prompted Persian Gulf producers to ramp up activity and revive crude exports that had been constrained by regional tensions.
Traders said Qatar also sold Al-Shaheen, Marine and Land grades to an Indian refiner last week, showing the rebound is spreading beyond a single buyer.
The renewed deals suggest Middle East oil flows to Asia are normalizing again, with Gulf suppliers moving quickly to reclaim demand from key refiners.