️🇸🇦🇸🇬 Reuters: Saudi Arabia plans to store crude oil in Singapore's Jurong Rock Caves from the second half of 2027 to strengthen supply security in Southeast Asia.
Saudi Aramco has signed a memorandum of understanding with the Energy Market Authority of Singapore and JTC, with negotiations expected to be completed within months.
The arrangement will bring Saudi supplies closer to Asian markets following disruptions in shipments through the Strait of Hormuz.