Significant Resumption of Oil Loadings in Saudi Arabia Enhances Gulf Supply

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Saudi Aramco has recommenced crude oil loadings at Ras Tanura, the largest oil terminal globally, following a nearly four-month suspension due to the Strait of Hormuz situation. Shipping records indicate that two VLCCs, under Saudi control, are currently loading at the Gulf facility, each capable of transporting approximately 2 million barrels of oil. Saudi oil exports had dropped to about 4 million barrels per day, down from over 7 million in February. This restart is likely to increase supply pressure as Gulf nations expedite their cargo deliveries back to the market.

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00:00Saudi Aramco has restarted oil loadings at Ras Tanura.

00:03The move marks a major supply boost from the Gulf.

00:07Shipping data shows two very large crude carriers loading at the Saudi terminal.

00:11A third tanker was waiting nearby.

00:13Each VLCC can carry about 2 million barrels of oil.

00:18Ras Tanura is the world's biggest oil port.

00:21Before the conflict, it exported more than 5 million barrels per day.

00:25But loadings had been halted for nearly four months.

00:29Saudi exports fell to about 4 million barrels per day,

00:32down from more than 7 million in February.

00:35The restart comes despite fresh tension in the Strait of Hormuz.

00:39A ship linked to Taiwan's evergreen marine was hit by an unknown object on Thursday.

00:45Two U.S. officials blamed Iran for the attack.

00:48Even so, Gulf producers are rushing cargoes back to market.

00:52Iraq, Qatar, Kuwait, the UAE, and Iran are also offering crude.

00:58Oil prices slipped as traders focused on rising supply.

01:03Analysts say 2 million barrels per day have already returned online in three weeks.

01:08The wider Gulf recovery is improving, but shipping security remains the key risk ahead.

01:13Apart from the current summit's

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