Recent tracking data from multiple international shipping agencies indicates that Saudi Arabia's oil giant, Saudi Aramco, has resumed loading crude for buyers at ports inside the Strait of Hormuz, with several very large crude carriers (VLCCs) currently waiting in nearby waters to take on cargo. Data from ship tracking firms Kpler and Vortexa shows that between August 12 and 16, three VLCCs loaded 2 million barrels of crude each at the eastern Saudi ports of Juaymah and Ras Tanura, marking the first cargo loadings at these two oil terminals in nearly three weeks. According to reports, the three tankers belong to a South Korean company, although neither Saudi Aramco nor the South Korean firm has confirmed the reports. Kpler data also indicates that six additional VLCCs are scheduled to load Saudi crude within the Strait of Hormuz later this month. Shipping research data from the London Stock Exchange Group shows that seven VLCCs operated by Saudi Arabia's Bahri Shipping are currently anchored in UAE and Omani waters, while another two VLCCs are en route to the UAE's Port of Fujairah.

Reports indicate that on August 17, Saudi Aramco proposed to some Asian buyers the option of delivering crude via ship-to-ship transfers near the Port of Fujairah later this month. Since Fujairah lies outside the Strait of Hormuz, this arrangement would require Saudi Aramco to first transport the crude through the strait, with buyers needing to take delivery outside the waterway. Saudi oil exports remain constrained under these conditions. The Strait of Hormuz has yet to reopen to normal navigation, and some vessels have chosen to switch off their transponders to risk sailing along routes not designated by Iran. According to the Islamic Republic News Agency (IRNA), Iranian Foreign Ministry spokesman Baqaei stated on August 17 that Iran and Oman are finalizing a memorandum of understanding regarding the Strait of Hormuz. Iranian Parliament Speaker Qalibaf also said on August 18 that the strait will remain closed until the United States fulfills the conditions outlined in the memorandum of understanding reached with Iran.

On another front, Saudi Arabia's crude export route via the Red Sea port of Yanbu continues to face disruption due to a maritime blockade imposed by Yemen's Houthi forces. As a result, Saudi Arabia has been forced to reroute its oil shipments through the Suez Canal in Egypt, bypassing Africa to reach international markets. However, this detour has significantly increased transit times and doubled transportation costs.