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Commodities

Saudi Oil Tankers Escape Houthi Blockade in Red Sea

Guavy AI Editorial Team
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Two large Chinese supertankers carrying 4 million barrels of Saudi oil safely exited the Red Sea via the Bab El-Mandeb strait on Thursday, despite a blockade by Yemen's Houthi militias.

The VLCC Xin Long Yang and Cosnew Lake made their way out of the Red Sea after pausing in mid-sea due to the blockade. The Xin Long Yang had turned back earlier this week but continued its journey southward late Wednesday.

Both vessels are chartered by Unipec, the trading arm of Asia's largest refiner Sinopec. However, a person with knowledge of the matter stated that PetroChina was the charterer for the Xin Long Yang.

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