Saudi Aramco Resumes Oil Loading After Three-Week Hiatus in Strait of Hormuz

Saudi Arabia's state-owned oil company, Saudi Aramco, has resumed loading and sales of crude oil from within the Strait of Hormuz after a three-week hiatus.

The move comes as Saudi Aramco offers spot heavy crude cargoes to Asian refiners via ship-to-ship transfers off Fujairah in the United Arab Emirates.

Three very large crude carriers (VLCCs) loaded 2 million barrels of crude each from the Juaymah and Ras Tanura terminals between August 12 and 16, according to data from shiptrackers Vortexa and Kpler.

Saudi Aramco's resumption of exports could help ease tight supply of heavier grades that produce more residue fuel, which can be used to refuel ships or processed further at refineries.