Saudi Arabia cancels oil shipments to European refineries

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The kingdom's East-West Pipeline and Red Sea port of Yanbu have been attacked by drones, as fighting rages in Yemen Saudi Arabia has informed at least two oil refining customers in Europe that they will not receive crude oil allocations in October, as the war in the Middle East hits global energy markets. European refineries buy Saudi Arabian crude under term contracts meant to ensure a standard monthly supply, but energy companies can cancel those shipments under extraordinary circumstances, kn