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The Economic Times

Economy / The Economic Times

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Saudi Arabia gives oil buyers Red Sea option due to crisis in Strait of Hormuz

Saudi Arabia is rerouting oil shipments through the Red Sea port of Yanbu. This move prepares for potential disruptions in the Strait of Hormuz. Customers can choose Yanbu for a portion of their April supply. Alternatively, they can opt for Persian Gulf deliveries at risk of no oil. This reflects uncertainty over the ongoing conflict and the strait's reopening.

16 Mar 2026 12:43 pm