Asian Crude Buyers Negotiate with Saudi Aramco to Reroute Red Sea Oil Shipments on July 23

According to traders citing discussions on July 23, at least two Asian crude buyers are negotiating with Saudi Aramco to reroute oil shipments away from the Red Sea following Houthi attacks on tankers. Refineries are exploring alternatives to using the Strait of Mandab, including acquiring crude from Egyptian ports such as Sidi Kerir via the Mediterranean rather than through Saudi Arabia's Red Sea hub in Yanbu.

Under one proposed arrangement, Aramco would transport oil from Yanbu to Egypt's Ein Sokhna port on the Red Sea, then pipe it northward. Alternatively, buyers could assume logistics responsibility in Egypt after taking delivery in Yanbu. Negotiations remain ongoing with no final decision reached.