Saudi Oil Tanker Giant Snaps Up Ships for Hormuz Workaround

Saudi Arabia’s biggest oil shipper has been booking tankers at sky-high rates, as a massive armada is on its way to load the kingdom’s crude from the Red Sea in...

By Alex Longley, Anthony Di Paola · Bloomberg Markets

Saudi Arabia’s biggest oil shipper has been booking tankers at sky-high rates, as a massive armada is on its way to load the kingdom’s crude from the Red Sea in a workaround to a standstill in the Strait of Hormuz.