Saudi Arabia Begins 'Dark Hormuz' Oil Trade as Crude Prices Rise | Vantage on Firstpost | 4K

Saudi Arabia is increasingly finding alternate routes to the Strait of Hormuz to export its crude. Saudi Arabia is now looking to export its oil via the Suez Canal using Egypt's Sidi Kerir port. Meanwhile, Saudi Arabia is also increasingly shipping oil via Oman by first sending trucks across the border into Oman and then using the Sohan port to load the crude onto tankers for export to global markets. This trade is now part of the larger 'Dark Hormuz' oil trade that continues while the Strait of Hormuz remains closed. Along with Saudi Arabia, the UAE has also relied in recent days on the 'Dark Hormuz' trade. However, the new routes mean longer supply chains and increased logistics, ultimately forcing the price of oil barrels to increase, contrary to US President Donald Trump's claims that oil prices would go down when the fighting with Iran would come to a halt. Hem Kaur Saroya tells you more on Vantage on Firstpost.

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Strait Of Hormuz | Hormuz Crisis | Saudi Arabia | Saudi Oil | Oil Crisis | Oil Prices | Brent Crude | UAE | Oman | Iran | Iran War | Gulf Oil | Global Oil | Oil Exports | Red Sea | Houthis | Suez Canal | Firstpost | Vantage | Hem Saroya

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