🔻Shipment of Saudi oil from Yanbu port in the Red Sea has been “stopped”

🔻Shipment of Saudi oil from Yanbu port in the Red Sea has been “stopped”

Reuters, citing shipping sources, reports that loading oil at the Saudi port of Yanbu in the Red Sea has been stopped. After these reports, the price of oil today rose by nearly three dollars per barrel.

At the same time, it has been reported that Riyadh informed European buyers that it had cancelled crude oil deliveries at the end of September (about two weeks from now).

After a drone attack three days ago on the East–West pipeline, Saudi Arabia cut off the flow of oil in this pipeline. Saudi Arabia blamed Iraq for the source of the attack.

This pipeline helped Saudi Arabia transfer oil to Yanbu without passing through the Strait of Hormuz and, from there, ship it to Europe via the Suez Canal without needing to pass through Bab al-Mandeb.

Now, with the recent advances by the Iranian-aligned Houthis, which have taken control of Bab al-Mandeb, Saudi Arabia’s concerns have increased.

Aramco, the Saudi Arabian oil company, which increased use of the Yanbu terminal since the start of the war on February 28 (9 Esfand), declined to comment on the matter.

Libya has also stopped operations at three oilfields, further increasing concerns about oil supply.