Saudi Oil Crisis Deepens as Aramco Suspends Yanbu Loadings

Petrobras and Sempra Infrastructure (SRE) signed a 20-year LNG supply agreement for 0.8 mtpa, starting from the Port Arthur LNG Terminal in Texas. The deal aims to reduce Petrobras' exposure to market volatility and strengthen its gas portfolio. Sempra Infrastructure is a subsidiary of Sempra, a publicly traded company.

National Bank Financial upgraded Enbridge (ENB) to 'outperform' citing its North American oil production growth and recent acquisitions. Analyst Patrick Kenny raised the target price to $82. TD Cowen upgraded TC Energy (TRP) to 'buy' seeing a 16% pullback as an attractive entry point. National Bank initiated coverage of MDA Space (MDA) with an 'outperform' rating, highlighting its space investment growth potential.

Oil prices rose on Monday due to Saudi Arabia's East-West pipeline shutdown, with WTI and Brent futures increasing. The United States Oil Fund (USO) gained 1.14%, while Latin American energy companies saw mixed results: YPF rose, Petrobras slipped, and Ecopetrol was flat. The shutdown highlights supply concerns and potential market impacts.

Sempra Infrastructure signed a 20-year LNG supply deal with Petrobras for 800,000 tonnes per year, sourced from its Port Arthur LNG Phase 2 project in Texas. The agreement adds Petrobras as Sempra's first South American LNG customer. Port Arthur Phase 2, with a $14 billion estimated cost, is set to add 13 million tonnes per annum of liquefaction capacity and begin operations in 2030-2031. Sempra has previously secured LNG agreements with ConocoPhillips, JERA, and EQT for Phase 2.

Sempra Infrastructure (SRE) signed a 20-year LNG supply deal with Petrobras for 0.8 million tonnes per year. The LNG will come from Sempra's Port Arthur LNG Phase 2 project in Texas, expected to start operations in 2030-2031. This is Sempra's first South American customer.

Drones attacked Saudi Arabia's Petroline pipeline, causing oil prices to rise above $108/barrel. The pipeline, a key alternative to the Strait of Hormuz, was shut as a precaution. Petrobras shares rose 1.1%, while Brazilian banks and miners dragged down the Ibovespa. Colombia's oil sector may see increased revenue, but no immediate windfall is expected.