Saudi revives Hormuz shuttle to sustain exports amid rising risk and costs

AI Summary

Saudi Arabia resumed its crude oil export operations via a shuttle route through the Strait of Hormuz after shutting its east-west pipeline due to militia attacks. This approach circumvents Iranian threats and involves transferring oil to other vessels offshore to sustain exports amid growing regional risks and costs.

Saudi Arabia found a new route for crude exports after halting operations of its east-west pipeline linking the country due to an attack by Iraq’s Iran-aligned militias. The method is to sail back through the Strait of Hormuz, which had been effectively blocked by Iran’s threat, and then transfer the oil to another vessel off ...