Trade and shipping sources and vessel data show at least five VLCCs carrying
about 10 mln barrels of Saudi crude have departed Ras Tanura and transited the
Strait of Hormuz. Aramco resumed loading at Ras Tanura on Friday after nearly
four months offline. The company is accelerating shipments to Asia and moving to
spot pricing—offering spot-priced barrels to Asian buyers and using the Bahri
tanker fleet—to speed sales amid intensifying supplier competition, a move that
is increasing spot supply overhang.