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Saudi Aramco warns of a long disruption to oil markets from the near closure of the Strait of Hormuz.
Aramco warns oil market may only normalize in 2027 if Hormuz disruption lasts weeks.
KEY POINTS
- Aramco redirected exports via the East-West pipeline to Yanbu, but volumes remain below prewar levels.
- Some Aramco shipments recently moved through Hormuz with ship transponders off to avoid detection.
- Aramco's quarterly free cash flow of $18.6 billion fell short of its $21.9 billion dividend payout.
- Aramco's gearing ratio increased to 4.8% this quarter from 3.8% at end of 2025.
COMPANIES
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