Houthi Blockade Hits Saudi Oil Terminal, 'Dark Tanker' Shipments Fill Gap

A Saudi oil terminal has seen its crude loadings plummet by at least 30% after Yemen's Houthi rebels declared a blockade on Saudi Arabia. Data from Kpler and AXSMarine shows that exports from Yanbu, a key Red Sea port, fell to between 2.4 million and three million barrels per day in the week commencing July 20.

The Houthis' blockade has disrupted normal operations at Yanbu, which is a crucial outlet for crude shipped westward to Europe and North America via the SUMED pipeline and Red Sea routes.

However, data from Vortexa suggests that exports remained broadly stable, citing an increase in 'dark tanker loadings'. Four VLCCs, one Suezmax, and one Aframax loaded with AIS transponders switched off accounted for about a third of volumes lifted during the week.