A flotilla of supertankers is steaming towards Saudi Arabia’s Red Sea coast as the kingdom rushes to reroute oil exports trapped in the Gulf by the Iran war.
About 30 so-called very large crude carriers, each capable of carrying more than 2mn barrels of oil, are headed to the kingdom’s western port of Yanbu over the coming days, according to shipbrokers, compared with a long-term average of roughly two a month.
The voyages come after Iranian strikes on vessels and infrastructure brought traffic to a near standstill in the Strait of Hormuz, the narrow waterway through which almost all the Gulf’s oil exports flowed before the war.
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