Saudis Open Up Red Sea Oil Shipping Route for Asian Refiners

Saudi Aramco has informed several Asian refiners that they will soon be able to pick up oil from the Red Sea port of Yanbu, according to traders familiar with the matter.

No official announcements have been made by the state-run company, but executives have given informal assurances to at least three fuel processors.

The traders, who wish to remain anonymous as they are not authorized to speak to media, said that no timelines were provided for when the loadings will start.