Saudi Arabia is intensifying efforts to reroute oil exports through the Red Sea to bypass the Strait of Hormuz, leading to a gathering of very large crude carriers (VLCCs) along its Red Sea coast awaiting loading. Riyadh is attempting to address unprecedented disruptions caused by the Iran conflict.

Shipping tracking data reveals that 11 VLCCs have arrived at Yanbu Port over the past one to two days and are currently waiting in nearby waters before commencing loading operations.

State-owned oil giant Saudi Aramco indicated that export volumes will soon reach 5 million barrels per day, though the infrastructure supporting this scale has never before been tested to such an extent.

Traders are closely monitoring how quickly Saudi Arabia can complete loadings given the influx of tankers.

Since the outbreak of the Iran conflict, oil prices have surged to nearly $100 per barrel. The International Energy Agency stated that the effective closure of the critical chokepoint, the Strait of Hormuz, represents the largest recorded shock to global production.