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ConflictSix empty Saudi oil tankers have turned away from the Bab el-Mandeb Strait in the Arabian Sea and are heading south around Africa, a highly unusual route for Middle East crude carriers. The rerouting follows Houthi threats and actual attacks on Saudi shipping in the Red Sea, prompting Saudi Arabia to again alter its crude export tactics. The tankers are indicating destinations such as Gibraltar or South African ports (Durban, Algoa Bay), which are major refueling hubs. The longer route adds at least two weeks to the journey compared to transiting the Suez Canal. Separately, more than eight empty very large crude carriers (VLCCs) are en route to Egypt's Sidi Kerir port to pick up Saudi crude, as Saudi Arabia shuttles oil via the SUMED pipeline from Yanbu to Ain Sukhna to bypass the Houthi blockade. The Houthi threat has already forced at least one tanker carrying Saudi crude to Asia to take the longer route around Africa.
OilPrice.com Daily News UpdateWestern
Houthi Threatens Maritime Embargo on Saudi Oil Through Red Sea