Oman Crude Loadings Halted at Mina al Fahal After Drone Strike as Gulf Crisis Deepens

An explosion near Mina al Fahal’s single-buoy moorings on June 5 has suspended Oman crude loadings, extending Gulf supply disruptions beyond the closed Strait of Hormuz. The incident follows Russian Deputy PM Novak’s June 4 warning that demand estimates require drastic revision amid US-Israel-Iran conflict and falling Russian output from Ukrainian strikes. Earlier, OPEC reaffirmed robust 2026 demand while China’s weaker imports shielded prices, leaving Brent and WTI down more than 3% as traders reprice outage risk.