Saudi Arabia's Red Sea oil exports surge 21-fold after Strait of Hormuz closure

valor.globo.com (Portuguese)

Saudi Arabia's Red Sea oil exports surged 21-fold due to Iran's closure of the Strait of Hormuz. This shift involves loading 22 tankers daily at Yanbu, a significant increase from zero to two ships previously. March's total reached 64 tankers by the 13th. The conflict and attacks on oil infrastructure are increasing shipping costs and oil prices, with concerns of further export disruptions.


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