Saudi Arabia’s oil giant Saudi Aramco has reportedly resumed crude oil loading operations within the Strait of Hormuz since last week, while deploying additional tankers following direct sales offers for heavy crude cargoes.
On Monday, the world’s largest oil producer offered Arab Medium and Arab Heavy crude to several Asian refineries for ship-to-ship transfers in waters off Fujairah, the United Arab Emirates (UAE).
Saudi Aramco had previously suspended sales for several weeks following attacks on its tanker fleet in the Strait of Hormuz amid escalating tensions between the United States and Iran.
According to Reuters, the resumption of Saudi crude exports could help ease global supply pressures for heavy crude grades, which are widely used as marine fuel or processed by refineries to produce higher-value products such as petrol and diesel.
Shipping data from Vortexa and Kpler showed that three very large crude carriers (VLCCs) — Malaysia Prosperity, Algeria Prosperity and Singapore Prosperity — each loaded around two million barrels of crude from the Juaymah and Ras Tanura terminals between August 12 and 16.
The shipments ended a three-week halt in crude loading activity at the two ports.
However, Saudi Arabia’s overall crude exports remain constrained by maritime restrictions imposed by Yemen’s Houthi group in the Red Sea. Saudi Aramco had previously redirected some exports to the Yanbu port when the conflict involving Iran intensified.
As an alternative, the oil giant has offered additional crude cargoes for loading through Egypt’s Sidi Kerir port on the Mediterranean coast.
Volumes through the route, however, remain significantly lower than previous levels, with Yanbu having handled exports of up to four million barrels a day before the restrictions.
Higher shipping costs and longer voyage times have also reduced buyer interest in alternative routes.
Saudi Aramco and tanker operator Sinokor have so far declined to comment on the developments.
Preliminary Kpler data showed that at least six more VLCCs are scheduled to load Saudi crude from within the Strait of Hormuz towards the end of this month.
Trade analysts believe Saudi Aramco could deploy its own Saudi-owned tanker fleet to transit the Strait of Hormuz, alongside vessels operated by Sinokor.
LSEG shipping data on Tuesday showed seven VLCCs operated by Saudi tanker company Bahri anchored in UAE and Omani waters, while another two vessels were sailing towards Fujairah.
The renewed loading activity comes as global oil markets continue to closely monitor developments around the Strait of Hormuz, a critical route for international energy supplies.
