Saudi Aramco has offered prompt crude supply through a series of rare tenders, as the effective closure of the Strait of Hormuz traps shipments and forces a rerouting of flows via the Red Sea.
The world’s largest crude exporter has offered three gradesBloomberg Terminal — Arab Extra Light, Arab Heavy and its flagship Arab Light, according to traders with direct knowledge of the matter. It’s offered a total of roughly 4.6 million barrels of those varieties in recent days, said the traders, asking not to be named as they aren’t authorized to speak to the media.
