business π’ Asian refiners shift Saudi crude pickup from Red Sea
Heightened shipping risks in the Red Sea have led at least two Asian refiners to request Saudi Aramco pick up crude at Sidi Kerir in Egypt next month. These requests come as vessel owners avoid the Bab el-Mandeb Strait due to Houthi threats since late July. Aramco has already rerouted some cargo to Sidi Kerir for South Korea and Japan. However, most refiners in China, India, and Taiwan are still meant to collect oil from Yanbu. Some refiners might drop their monthly allocation because of increased Mediterranean shipping costs. π’