Commodities
Yanbu Port Sees Record Activity Amidst Houthi Blockade Threats
Saudi Arabia's Yanbu port has seen its busiest day since Houthi threats disrupted regional shipping, according to Bloomberg. Five Very Large Crude Carriers (VLCCs) were spotted at the crude oil loading terminals, marking a significant increase in activity.
The VLCCs are capable of carrying approximately 2 million barrels of crude oil each. The surge in activity comes despite Houthi threats targeting Saudi ports two weeks earlier.
Following disruptions to shipping through the Strait of Hormuz during the conflict with Iran, Yanbu has become increasingly important for Saudi Arabia's crude oil exports. The kingdom transports crude via pipelines to the Red Sea port for shipment to international buyers.