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Yanbu Port's Peak Oil Tanker Activity
The port of Yanbu in Saudi Arabia on the Red Sea witnessed unprecedented activity in oil shipping, with five giant oil tankers mooring at its docks. This is the largest port activity since the escalation of threats targeting Saudi navigation two weeks ago. This comes amid oil tankers transiting the Bab el-Mandeb Strait, with some passing through without monitoring after loading oil in Yanbu, due to security disturbances that prompted Saudi Arabia to redirect part of its exports via alternative routes such as the Cape of Good Hope and the Sidi Krir port in Egypt, to ensure the continued flow of oil to the global market. Shipping movement data shows that the flow of Gulf oil continues, with more than 8.4 million barrels leaving on Friday—the highest rate since the start of the Iranian conflict.
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