Saudi Aramco offered additional crude cargoes for loading from Egypt’s Mediterranean port of Sidi Kerir as Houthi threats increased risks to shipping through the Red Sea and Bab el-Mandeb Strait, Reuters reported on Thursday, citing five trading sources.
Two sources said the cargoes were offered on the spot market in addition to supplies for customers with long-term contracts.
Aramco already ships some oil to European and North American customers from Sidi Kerir. The additional volumes indicate that the Saudi producer is seeking greater flexibility in reaching those markets while security risks persist along the Red Sea route, according to the report.
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