Full Breakdown
Saudi Aramco Resumes Oil Loading at Ras Tanura After Four-Month Halt
6/26/2026, 8:41:17 AM
Resumption of Loading Operations
Saudi Aramco restarted oil loading at the Ras Tanura terminal on Friday after an almost four-month suspension. LSEG data show two VLCCs, each holding two million barrels, were loaded while a third vessel waited. Ras Tanura, one of the world’s largest export terminals, normally ships Saudi crude to Europe and Asian markets such as China, Japan and South Korea.
Prelude: Drone Attack and Strait Closure
The pause followed a fire caused by a drone strike on the Ras Tanura refinery in early March. Days later Iran blocked the Strait of Hormuz amid its war with the United States and Israel, halting Gulf-bound traffic and forcing Saudi exports to the Red Sea port of Yanbu.
Quantifying the Disruption
The International Energy Agency (IEA) estimated Middle-Eastern supply losses above 1.3 billion barrels due to the closure. Daily hydrocarbon flows through the strait fell from roughly 20 million barrels pre-conflict to an average of 2.7 million barrels in March-May. To offset the loss, Saudi Arabia raised Yanbu exports from about two million barrels per day before the war to over five million barrels per day in early June and “boosted deliveries from stocks held overseas,” the IEA reported.
Official Statements & Responses
Saudi Aramco did not comment. The IEA said the market remains highly unpredictable, with major strains and uncertainty over the outcome of peace talks. Two U.S. officials told Reuters that Iran fired on a cargo ship near the Omani coast, prompting the UK Maritime Trade Operations to suspend an escort mission. Iranian officials responded that vessels not following Tehran-mandated routes would not be guaranteed safe passage.
Criticism & Market Concerns
IEA analysts emphasized persistent market strains despite the interim U.S.–Iran deal, noting that Gulf shipping security remains fragile and any escalation could quickly affect global oil supplies.
Conflicting Reports & Gaps
Attribution of the recent cargo-ship attack is disputed: U.S. officials claim Iranian fire, while Iranian officials deny responsibility and instead set conditional safety warnings. Saudi Aramco’s silence on both the resumption and the security environment leaves a notable information gap.
Verbatim Quotes
- “Saudi Arabia also boosted deliveries from stocks held overseas,” — International Energy Agency
- “the situation nonetheless remains highly unpredictable, with major strains in large parts of the market and uncertainty over how the peace talks will play out” — IEA analysts
- “Two US officials told Reuters that Iran fired on the ship, while Iranian officials said vessels that refuse to sail on routes Tehran has set would not be guaranteed safe passage.” — Iranian officials
What’s Next
The UK Maritime Trade Operations will reassess escort services in the Strait of Hormuz, while ongoing U.S.–Iran negotiations will shape the security outlook for Gulf shipping. Observers will track Saudi export volumes from Ras Tanura and Yanbu for signs of market stabilization.
