Saudi Aramco Resumes Oil Sales from Strait of Hormuz Amid Escalating Tensions

Saudi Arabia has resumed oil sales and loading from within the Strait of Hormuz, following an attack on its tanker fleet last month. The world's largest oil exporter, Saudi Aramco, had halted sales after the escalation of U.S.-Iran tensions.

The company is now offering spot heavy crude shipments via STS transfers from Fujairah in the United Arab Emirates. This move aims to ease the shortage of heavy grades, which produce more residue fuel that can be used for refueling ships or further processed at refineries.

Data from shiptrackers Vortexa and Kpler revealed a three-week gap since the last port loading. Between August 12-16, three very large crude carriers (VLCCs) loaded 2,000,000 barrels each from the Juaymah terminal and Ras Tanura Terminals.

Kpler's preliminary data showed that six more VLCCs may load Saudi oil in the strait by the end of this month. According to traders, Saudi Aramco may deploy Saudi tankers in addition to Sinokor vessels for the transit of Hormuz.