Red Sea alternative to Strait of Hormuz? Saudi's offer to oil buyers amid supply crunch

Saudi Arabia is offering long-term oil buyers a new route via its Red Sea port of Yanbu, bypassing the disrupted Strait of Hormuz. This move aims to ensure supply continuity for April shipments, though pipeline capacity limits full allocations. Asian buyers, including China's Sinopec, are already adjusting refinery operations due to supply concerns, highlighting global uncertainty over the conflict's duration.

By TOI BUSINESS DESK

There's a Red Sea alternative to Strait of Hormuz for oil, but here's the problem: Why Yanbu route may not work

Saudi Arabia giving customers option of receiving oil via Red Sea port of Yanbu on its western side, while Strait of Hormuz on its east remains blockaded

Japan says it is starting the release of strategic oil reserves - The Straits Times

Japan says it is starting the release of strategic oil reserves  The Straits Times

Japan begins its largest-ever oil release from strategic reserves

Crude oil prices have soared as the Strait of Hormuz, through which most of Japan-bound oil passes, stays effectively closed amid the U.S.-Israeli war with Iran.

Oil rises as attacks on Middle East export facilities continue

FACT CHECK: Current forecasts for oil price surge do not reach P200 per liter

While fuel prices are expected to increase due to compounded disruptions in oil shipments affecting the global economy caused by the recent conflict in the Middle East, recent projections do not estimate that it’ll reach up to ₱200 per liter

By Rappler.com

Oil prices open higher as war in Middle East rages - Jordan Times

Oil prices open higher as war in Middle East rages  Jordan Times

Oil rises further above $100, stocks mixed as Iran war rages

Oil prices surge past $100 a barrel as the Iran war intensifies, disrupting transit through the Strait of Hormuz and causing mixed reactions in stocks. Read More: https://punchng.com/oil-rises-further-above-100-stocks-mixed-as-iran-war-rages/

By Punch Newspapers

Oil rises further above $100, most Asian stocks fall as Iran war rages

Oil prices jumped further above $100 Monday and Asian stocks mostly fell as the Iran war moved into a third week with both sides showing no sign of backing down and diplomats trying to ensure safe passage for tankers through the crucial Strait of Hormuz. The post Oil rises further above $100, most Asian stocks fall as Iran war rages appeared first on Vanguard News.

By Ayobami