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Saudi Aramco told at least two oil refining customers in Europe that they will be allocated no crude next month under long-term agreements after the kingdom’s key pipeline to the Red Sea was attacked, people informed of the decision said. European customers normally receive Saudi Arabian crude on so-called term contracts, ensuring a steady flow of supply every month. Those deliveries will not take place next month, the people said, asking not to be identified because the information isn’t public.

The decision applies to all European buyers, they said.Saudi Aramco declined to comment. The absence of Saudi flows next month will heighten the need for European buyers to secure replacements.

On today's episode:

• Rob Barnett, Bloomberg Intelligence Senior Energy Analyst
• Eric Martin, Bloomberg News State Department & Foreign Policy Reporter
• Randi Weingarten, American Federation of Teachers President
• Nick Pappas, NFL Director of Field Operations