Aramco Shifts Oil Exports Amid Strait of Hormuz Disruptions
Saudi Arabia is redirecting its oil exports to avoid disruptions in the Strait of Hormuz following the shutdown of its East-West pipeline. Aramco has sold about 20 million barrels of spot crude to Asian refiners for pickup from just outside the strait, according to traders familiar with the matter.
The sales signal a shift back toward the traditional Gulf route as the pipeline outage limits Red Sea shipments and shipping risks persist. Aramco has delayed some European deliveries from its Red Sea port of Yanbu, and Asian refiners are seeking loading updates due to the uncertainty surrounding the pipeline's operations.