Aramco Explores Plan to Export Oil Via Red Sea to Avoid Hormuz

Saudi Aramco is exploring the option of delivering more cargoes to Yanbu, a port in the Red Sea that’s situated outside the Persian Gulf, where dozens of ships are hunkered...

By Serene Cheong, Yongchang Chin, Salma El Wardany, Rakesh Sharma · Bloomberg Markets

Saudi Aramco is exploring the option of delivering more cargoes to Yanbu, a port in the Red Sea that’s situated outside the Persian Gulf, where dozens of ships are hunkered down as the Strait of Hormuz remains effectively closed.