Aramco CEO Withdraws From Houston Event to Deal With War

Article content(Bloomberg) — Saudi Aramco Chief Executive Officer Amin Nasser has withdrawn from a major energy conference in Houston, which is due to start Monday, as the situation in the Middle East threatens to escalate further.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentNasser, who had been due to appear on stage at CERAweek by S&P Global on Tuesday, will no longer participate in the event, according to a person familiar with the matter.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentThe CEO’s priority is dealing with the situation in the Middle East, said the person, who asked not to be named because Nasser’s decision hasn’t been announced publicly yet.Article contentArticle contentAramco, the world’s largest oil producing company, has had to reroute much of its crude after the war effectively closed the Strait of Hormuz to most tanker traffic. The company is also among those whose assets in the region have been targeted in Iranian aerial attacks.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentNasser warned earlier this month that the impact on global oil markets will be “catastrophic” the longer the disruption from the Iran war drags on.Article contentMore than three weeks into the conflict, oil and gas prices have surged. Brent crude futures were trading above $110 a barrel at the market open in early Asian trading hours on Monday.Article contentWith the strait unusable, Saudi Arabia has rerouted oil via the massive East West Pipeline and ramped up exports from the port of Yanbu on the Red Sea.Article contentOn Thursday, loadings were briefly halted following an Iranian attack, a reminder that flows can be uneven in such a volatile environment.Article content(Updates with oil price in sixth paragraph.)Article contentTrending Garry Marr: Why it could be the right time to walk away from your real estate Personal Finance Public-private partnership launches $1.3-billion fund to purchase unsold GTA condos Real Estate Oil Fluctuates as Trump's Hormuz Ultimatum Fails to Stir Traders PMN Business TC Energy could be open to return to B.C. LNG pipeline project as global gas crunch threatens Oil & Gas Asian Stocks Drop, Oil Swings in Volatile Start: Markets Wrap PMN Business Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Garry Marr: Why it could be the right time to walk away from your real estate Personal Finance Public-private partnership launches $1.3-billion fund to purchase unsold GTA condos Real Estate Oil Fluctuates as Trump's Hormuz Ultimatum Fails to Stir Traders PMN Business TC Energy could be open to return to B.C. LNG pipeline project as global gas crunch threatens Oil & Gas Asian Stocks Drop, Oil Swings in Volatile Start: Markets Wrap PMN Business