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.