1 Day
Source:
الاقتصادية
Asian buyers negotiate Red Sea oil transfers
The Houthi attacks on oil tankers in the Red Sea have led Asian oil trading companies to consider new approaches with Saudi Aramco to avoid passing through the Bab el-Mandeb Strait, a strategic corridor that threatens global oil supply stability. Companies are exploring alternatives such as transporting oil from the Sidi Kerir port in Egypt on the Mediterranean Sea instead of from Yanbu on the Red Sea, with the possibility that Aramco might ship through Egyptian ports or that buyers will handle logistics themselves. If shipments are routed around the longer route south of Africa, the voyage duration will increase by about a month. Ongoing tensions continue to impact the market, with Brent crude oil prices rising to over $98 per barrel — a more than one-third increase this month.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)