Saudi Aramco Resumes Hormuz Shipments Amid U.S.-Iran Tensions

Following a three-week suspension caused by U.S.-Iran conflict escalation and attacks on its tanker fleet, Saudi Aramco has resumed loading crude oil at its Juaymah and Ras Tanura terminals. Satellite data indicates that vessels with at least 9 million barrels of capacity loaded at Ras Tanura over the past week, including three supertankers carrying two million barrels each.

The resumption comes as the Strait of Hormuz remains a high-risk zone. U.S. President Donald Trump recently threatened to bomb Oman if its government obstructs negotiations with Iran, while Iran has threatened a fully offensive posture following the expiration of a 60-day Memorandum of Understanding. These tensions drove oil prices to $91 per barrel and led Chinese shipping giants COSCO and CMES to cease entering the Strait of Hormuz and the Bab el-Mandeb Strait.

To mitigate risks and bypass the chokepoint, Aramco is offering Arab Medium and Arab Heavy crude to Asian buyers, primarily Chinese refiners, via ship-to-ship transfers off Fujairah in the United Arab Emirates and near Sohar, Oman. This strategy allows buyers to avoid sending vessels directly through the Strait. The shift is further necessitated by a maritime blockade declared by Houthi militants in Yemen, which has disrupted Saudi Arabia's alternative export route through the Red Sea port of Yanbu.