Saudi Aramco seeks to reroute crude away from Strait of Hormuz, sources say

Saudi Aramco is rerouting oil exports to the Red Sea port of Yanbu. This move aims to bypass the Strait of Hormuz, where shipping is severely impacted by attacks. The East-West Pipeline, a potential alternative, has limited capacity and faces security concerns. Global oil prices have risen due to ongoing conflicts impacting Middle Eastern energy production and exports.