Saudi Aramco Resumes Oil Sales from Strait of Hormuz

Saudi Aramco has resumed oil sales from inside the Strait of Hormuz after halting them for weeks due to attacks on its tanker fleet. The state energy giant offered spot heavy crude cargoes via ship-to-ship transfers off Fujairah in the UAE this month, according to shipping data and trade sources.

The resumption of Saudi exports could ease the tight supply of heavier grades that produce more residue fuel. Three Very Large Crude Carriers (VLCCs) loaded 2 million barrels each from August 12 to 16, marking a three-week gap since the last loading at the ports.

Saudi Aramco has declined to comment on the resumption of exports. However, traders said the company could deploy Saudi tankers for the Hormuz transit in addition to Sinokor vessels.