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Middle Eastern oil traders are beginning to resume shipping plans through the Strait of Hormuz; the ceasefire agreement remains crucial.
ME News Report, April 10 (UTC+8), sources say that Middle Eastern oil producers have requested Asian refiners to submit shipping plans for April and May in preparation for the eventual reopening of the Strait of Hormuz. However, there are currently no signs that Tehran is lifting the near-total blockade of this critical waterway, which has previously caused sharp increases in energy prices. But the previously announced two-week US-Iran ceasefire has rekindled hopes of reopening the strait. Two sources said that the world’s largest exporter, Saudi Aramco, has asked customers to submit reports for shipments from Yanbu and Ras Tanura ports in May. One person stated that this will depend on the recovery of exports from Ras Tanura in the eastern region, which requires ships to pass through the Strait of Hormuz. (Source: ODAILY)