Hormuz disruption rattles energy flows; Pakistan asks Saudi Arabia to route crude via Yanbu
Latest news on WhatsApp أجدد الأخبار على واتسابEnergy markets faced a fresh jolt as traffic through the Strait of Hormuz effectively ground to a near-halt, driving up shipping costs and straining supply chains, Reuters reported.
Reuters also reported that Qatar declared force majeure on gas exports, with sources saying QatarEnergy was moving to a full LNG liquefaction shutdown and that a return to normal output could take at least a month, as curtailed shipping prevents cargoes from leaving and quickly tightens storage buffers.
In Pakistan, the petroleum ministry said Islamabad asked Saudi Arabia to route oil supplies through the Red Sea port of Yanbu after Hormuz disruption hit shipping, adding that Saudi sources reassured supply security via the alternate route and that one vessel had been arranged to sail to Yanbu to lift crude for Pakistan.
The ministry said Petroleum Minister Ali Pervaiz Malik raised the issue in a meeting with Saudi Arabia’s ambassador to Pakistan, as the government monitors the situation given that most of Pakistan’s energy imports transit Hormuz.
Reuters added that Saudi Arabia has also been seeking to divert some crude exports to Yanbu to bypass Hormuz as shipping slows.
