Saudi Aramco resumed crude oil loadings from its Strait of Hormuz terminals after a three-week suspension. The company previously halted operations following a series of attacks on its tanker fleet. This resumption signals a restoration of disrupted supplies to a volatile global oil market.
Shipping data shows three very large crude carriers loaded approximately 2 million barrels each between August 12 and August 16. Tankers departed from the Juaymah and Ras Tanura terminals with more shipments scheduled for the remainder of the month. The return of heavier Saudi crude grades provides relief to Asian refiners who had been using alternative loading arrangements.