Saudi Aramco offers millions of crude barrels in rare tenders

Saudi Aramco offers millions of crude barrels in rare tenders

Aramco is attempting to reroute some of its crude exports through the Red Sea port of Yanbu to avoid the Strait of Hormuz, where the risk of Iranian attacks has slowed shipping to a near halt.

Aramco sold two million barrels of Arab Extra Light crude to Japan’s second-largest refiner Idemitsu Kosan in a third tender, three traders said.

The cargo, sold on a CFR basis, was already on a vessel near Taiwan, two of them added.

Aramco and Idemitsu did not immediately respond to requests for comment.

(Reporting by Siyi Liu in Singapore; Editing by Jamie Freed and Muralikumar Anantharaman)

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