UAE is selling Saudi oil in a rare move, document shows

The United Arab Emirates is offering 1.7 million barrels of Saudi Arab Light crude through an uncommon tender, Business Recorder reported, citing a document. The cargo is aboard the Gem No. 2, a vessel hit by an unidentified projectile last month, according to the report.

The UAE said last week that the tanker’s oil leak had been contained. The tender, naming the UAE Ministry of Energy and Infrastructure as seller under federal prosecution supervision, closed on Monday and proposed loading the oil from November 10 to 20 through a ship-to-ship transfer inside the Gulf. The report places the sale amid heightened maritime security concerns since the start of the US-Israeli war with Iran.