Saudi Arabia Resumes Yanbu Crude Loadings

Saudi Arabia has resumed crude oil loadings at the Red Sea port of Yanbu after restarting its East-West pipeline, restoring a route that lets exports bypass the Strait of Hormuz. The recovery remains partial: trade-source estimates put Yanbu loadings at about 2 million barrels per day since the previous week, while pipeline throughput estimates vary and do not show a return to normal levels. Saudi Arabia shut the pipeline after drone attacks damaged pumping stations earlier in September, interrupting crude flows to Yanbu. The pipeline resumed operations last week, and the port and the nearby Al Muajjiz terminal have since returned to loading crude cargoes. A source at an Asian refiner said Saudi Aramco notified customers on Monday evening of its October Yanbu loading schedule. The refiner also reported loading a cargo there late last week. Satellite imagery dated September 27 showed nearly 10 million barrels of crude being loaded at Yanbu and Al Muajjiz, according to TankerTrackers.com. The company said it identified 40 tankers in the area, regardless of whether they were loading or how close they were to the terminals.