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Saudi Oil Rush Threatens to Disrupt Stabilizing U.S. Oil Market

(Bloomberg) -- An armada of Saudi tankers brimming with crude heading to American shores is raising concern over storage space just as a U.S. glut shows signs of easing.Over 30 tankers laden with Saudi Arabian oil are set to arrive in the U.S. Gulf Coast and West Coast during May and June, according to ship tracking data compiled by Bloomberg. The more-than 50 million barrels of Saudi crude on the water threaten to disrupt a positive supply development: U.S. crude stockpiles declined for the first time since January and inventories at the Cushing, Oklahoma storage hub contracted by the most in months.“The expected Saudi deliveries could push U.S. inventories back to builds depending on their timing,” said Sandy Fielden, director of oil and products research at Morningstar Inc. “If the shipments land at a rate that isn’t balanced by falling production or an uptick in exports, then we’ll see a domestic...