finance.yahoo.com

Aramco Finds a New Way to Keep Saudi Crude Flowing to China

Saudi Aramco logoSaudi Aramco
Sig2.44Sen+0.83Env0.00Soc0.00Gov-2.57

Saudi Arabia is bypassing the Strait of Hormuz to keep crude flowing to Asia, using ship-to-ship transfers outside the strait. Saudi Aramco is offering more September crude to Asian buyers after data showed tankers moving through Hormuz with tracking systems switched off for a second week. Earlier this month it resumed loading at Ras Tanura and Juaymah, while routing additional barrels west via the East-West pipeline and Egypt’s Sidi Kerir terminal for Europe.

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