Why are buyers hesitant to load oil from Saudi Arabia's reopened Ras Tanura terminal despite its restart?

Buyers are hesitant because of renewed threats to shipping in the Persian Gulf, especially after three vessels were attacked in the Strait of Hormuz on Tuesday — the largest number of incidents since the US-Iran peace deal — and because escalating regional tensions, including President Trump’s warning of further US strikes on Iran, have raised fears of a return to all-out war. Additionally, concerns extend beyond safety to include limited tanker availability and high freight costs for Persian Gulf loadings.

What alternative loading option has Saudi Aramco offered, and why is it still being used despite Ras Tanura’s reopening?

Saudi Aramco has continued offering oil cargoes from the Red Sea port of Yanbu, which buyers have relied on since the early days of the Iran war; clients are still using Yanbu because they remain unwilling to send tankers into the Persian Gulf due to security risks and logistical challenges, even though Ras Tanura — which handled about 90% of Saudi crude exports prewar — has recently restarted and Aramco is prioritizing its use.

ChemBrief

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