LONDON, - Daily crude loadings at Saudi Arabia's Red Sea port of Yanbu are close to maximum levels this week as tensions with Yemen's Houthi militia intensify and the kingdom seeks to maximise oil exports, according to data and industry sources.
Saudi Aramco, the world's largest oil exporter, has increased use of the Yanbu terminal since the U.S.-Israeli conflict with Iran began on February 28. Saudi Arabia is also considering expanding the capacity of its oil pipeline to the western Red Sea coast, enabling the kingdom and possibly neighbours to transport more oil without crossing the Strait of Hormuz, sources have told Reuters. Aramco declined to comment.
