Saudi Aramco in Talks to Reroute Oil Tankers Around Africa as Houthi Attacks Push Brent Past $98

Meta Surpasses Saudi Aramco in Market Cap, Reclaims Top-10 Spot

In the macro context, lower oil prices could ease near-term inflation fears, potentially slowing the pace of rate hikes globally. However, the sustained high premium indicates supply is still tight, so the cut is more about competing with rising non-OPEC supply (e.g., US shale) than a collapse in demand. For crypto, this dichotomy matters because it creates uncertainty around monetary policy trajectory — a key driver of risk appetite.

Crude Oil

Saudi Arabia cut the price of its main crude grade to Asia for July, marking the second consecutive monthly reduction, but the premium remains near multi-decade highs.