Saudi Arabia Loads Millions of Oil Barrels in Persian Gulf Amid Houthi Threat

Saudi Arabia's oil loadings in the Persian Gulf are increasing, according to satellite images provided by the European Union. The images show that about 7 million barrels of shipping capacity were being loaded at various parts of the giant Ras Tanura terminal between August 19 and August 25.

The Ras Tanura terminal is Saudi Arabia's largest export conduit, and this surge in oil loadings suggests that the kingdom is reorienting its shipments in response to a threat from Yemen's Houthi militants to its Red Sea exports. The Houthi militants have previously targeted vessels carrying oil through the Red Sea.