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- Israel launched its first-ever export of crude oil, sending a shipment to Europe.
- The oil originated from an offshore field in the eastern Mediterranean Sea.
- This comes after a deal with Lebanon to settle the maritime borders between the countries.
A vessel is headed to Europe stocked with never-before-seen cargo: Israeli oil.
Israel's oil export was sold to commodities giant Vitol through a multi-cargo agreement. Referred to as the Karish Blend, it is expected to be valued close to the globe's average price for crude.
Israel has been extracting oil through a partnership with Energean, a London-based company leading the development of the Karish field in the eastern Mediterranean.