Saudi Arabia restarts loading oil at Strait of Hormuz
Saudi Aramco announced the resumption of oil shipments through the Strait of Hormuz last week after a weeks-long halt caused by attacks on its fleet and escalating tensions between the United States and Iran. Three massive tankers transported two million barrels of crude from the Jebel Ali and Ras Tanura terminals between August 12 and 16, with additional ships awaiting loading later. The restart of Saudi exports helps alleviate the shortage of heavier crudes, which are used to produce higher-quality fuels like gasoline and diesel. This development comes amid efforts to boost the flow of oil shipments through this vital strait.
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