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Yemama Port's record oil tanker activity
The Port of Yanbu in Saudi Arabia on the Red Sea witnessed a significant increase in oil shipping activity, with five giant oil tankers mooring at its docks—marking the highest level since the escalation of threats to regional navigation two weeks ago. Meanwhile, other tankers are operating in the Bab el-Mandeb Strait after loading Saudi oil, with some of their tracking devices temporarily disabled and later appearing off the coast of Oman. Due to security risks, some oil tankers have opted to navigate around the Cape of Good Hope. A portion of Saudi exports has been routed through Egyptian ports onto the Mediterranean. Gulf oil exports exceeded 8.4 million barrels per day on Friday, one of the highest shipping rates since the start of the Iranian war in February.
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