Saudi Arabia adjusts oil shipping routes under Houthi threats, leading to surge in vessel activity in the Persian Gulf

Saudi Arabia's crude oil loading volume within the Persian Gulf appears to be increasing significantly, marking the latest sign of the country readjusting its oil transport routes in response to threats from Yemen's Houthi militants to its Red Sea exports. According to images captured by the European Union's Sentinel-1 and Sentinel-2 satellites, around 7 million barrels of capacity were being loaded in different areas of Saudi Arabia's largest export hub, the Ras Tanura terminal, on Tuesday. That day, a total of four vessels docked at Ras Tanura and Ju'aymah ports, the highest level since the short-term surge in loading seen during the brief temporary peace agreement reached between the US and Iran at the end of June. Since the outbreak of the Iran war at the end of February, traders have been closely monitoring Saudi Arabia's oil transport situation. After the war broke out, Riyadh quickly redirected oil supplies to the Red Sea port of Yanbu, but last month, the Houthi militants announced a blockade on Saudi shipping, prompting Saudi Arabia to once again adjust its transport arrangements.