Yanbu Oil Loadings Plummet 25% After Houthi Strikes

Crude oil loadings at Saudi Arabia's Yanbu terminal in the Red Sea plummeted by around 25% last week following a series of strikes by the Houthi group. The Houthis had threatened to target Saudi oil infrastructure, and it appears they have followed through on this threat.

The decline in crude oil loadings is significant, given the importance of the Yanbu terminal as a major export hub for Saudi Arabia's oil exports. The terminal's capacity to handle large volumes of crude oil makes it a critical component of the country's oil infrastructure.