ORBX is trading at $41.83 (-3.18%) as Saudi Aramco canceled October crude allocations to European refiners following pipeline damage amid Middle East conflict, raising inflation and growth concerns.
- The move appears macro-driven, not holding-specific; lower U.S. equities, higher energy costs and cautious positioning offset the recent Fed hike.
- ORBX reverses part of its 3.85% September 17 rally; active in the open session, it trails major indexes substantially.
- Bloomberg and Reuters independently reported the cancellations.