ALWAGHT- Saudi crude oil loading at the Red Sea port of Yanbu has declined by 40 percent since Yemen imposed a blockade on the kingdom in response to Saudi-led military actions and years of restrictions on Yemen.
Maritime intelligence firm Windward reported that Yemen’s blockade of Saudi Arabia has caused major disruptions to the kingdom’s oil exports. Saudi Arabia has shifted shipments through alternative routes, including the SUMED pipeline and the Cape of Good Hope, increasing transport costs by around $9 per barrel.
According to Windward, Saudi crude exports have continued but changed routes, with Yanbu port seeing vessels operate with limited tracking signals due to security concerns. The alternative routes have added extra costs and longer shipping times.
The report came after Yemen’s armed forces carried out strikes targeting Saudi Aramco facilities in Jizan and Yanbu using missiles and drones. Yemen said the attacks were retaliation for Saudi strikes on Hudaydah port and other Yemeni locations.
Tensions between Yemen and Saudi Arabia have escalated amid renewed military actions and longstanding conflict. Yemen’s leadership has demanded an end to Saudi aggression and the lifting of restrictions, while accusing Riyadh and its allies of maintaining a years-long blockade.
