Reuters reports that Saudi Arabia is ramping up oil loading from the Yanbu oil terminal in the Red Sea amid escalating regional military tensions.
According to the report, Saudi Arabia loaded 4.7 million barrels of oil per day from the Yanbu terminal on Monday, which is 1.34 million barrels more than at the end of last week.
Saudi Arabia plans to build new pipelines from the eastern oil-producing regions of the country near the Persian Gulf to the Red Sea, in order to break free from dependence on the Strait of Hormuz.
Meanwhile, tensions between Saudi Arabia and Yemen’s Houthi rebels have also increased, and an oil trading source told Reuters that the biggest concern now is that the Houthis will open a new front of war in the Red Sea against Saudi Arabia.
In the first weeks of the 39-day war, the Islamic Republic carried out attacks on an oil refinery in Yanbu.


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