Saudi Aramco speeds crude sales with spot pricing as tankers exit Hormuz

At least five supertankers carrying 10 million barrels of Saudi crude had cleared the Strait of Hormuz after loading at Ras Tanura, while Saudi Aramco moved some Asian sales onto spot pricing to speed deliveries. The combination of faster loadings and a more flexible pricing strategy underscored how closely the kingdom was watching shipping conditions through one of the world’s most sensitive energy corridors.

Ras Tanura, Saudi Arabia’s biggest oil export terminal, resumed crude loadings on June 26 after a near four-month halt. Two very large crude carriers were seen loading at the terminal that day, with another waiting nearby. Each VLCC can carry about 2 million barrels, giving the terminal a rapid path back to large-scale exports after Saudi shipments had been rerouted through Yanbu during the Gulf shipping disruption.

The cargoes were reported in part bound for China and Japan, two of Asia’s biggest crude importers. That destination mix matters because it shows where Saudi barrels are being pushed most aggressively as refiners in the region balance supply security with price. Aramco’s shift to spot pricing for some Asian customers suggests the company was trying to move barrels faster than its usual structure of long-term contracts and monthly official selling prices would allow.

Saudi Arabia had already been trimming its Asia pricing before the latest export push. Aramco set the June Arab Light official selling price to Asia at $15.50 a barrel above the Oman/Dubai average, down from $19.50 in the prior month. That cut came after a period when Gulf shipping risks and volatility in oil markets had made route security and prompt supply a priority for traders and refiners.

The return of loadings at Ras Tanura is significant because the terminal had regularly shipped more than 5 million barrels a day before the disruption. With cargoes now moving again through Hormuz, Saudi Arabia is signaling that it wants to keep its biggest export outlet active and its barrels moving into the strongest demand centers in Asia. For traders, the message is clear: Saudi supply remains highly mobile, and Aramco is willing to use spot-market tactics when it wants to accelerate sales and defend market share.