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 o

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.