Saudi Arabia’s Red Sea port of Yanbu, currently the only export outlet for its crude, was targeted in an aerial attack on Wednesday an industry source told Reuters, adding that the strike has had minimal impact.
However, it was not immediately clear what part of the Red Sea Port facility was targeted in Yanbu.Saudi Aramco did not immediately respond to Reuters email for comment.
This comes two days after the country Saudi Arabia gave option to long-term oil customers wherein they can receive their allocations for April via the Red Sea port of Yanbu. This step was undertaken as the Gulf nation prepared for lengthy disruptions in the Strait of Hormuz.Oil traders told Bloomberg that buyers who choose Yanbu will only get a portion of their monthly supply due to constraints on how much crude the pipeline to the port can carry. The port has given a second option to receive oil from the Persian Gulf, but at the risk of not getting any if the strait remains closed, said the traders, who asked not to be named as they’re not allowed to speak to media.
The Saudi-based companies have a 5 million barrel-a-day pipeline that runs across the country to the Red Sea, although export capacity at Yanbu may be smaller than that
As per Bloomberg report, Aramco has been ramping up shipments via Yanbu since the beginning of the war, now into its third week.
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