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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting the restoration of global energy supply chains, Saudi Aramco has begun accelerating crude oil shipments through the strategic Strait of Hormuz following its reopening. Approximately 10 million barrels of Saudi crude have cleared the strait in recent days as loading operations continue at the Ras Tanura terminal. According to reports, the company has successfully dispatched at least five supertankers through the waterway, with another four vessels currently loading.
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Sign InThis ramp-up comes at a critical juncture for the global oil market as the Kingdom seeks to satisfy robust demand from Asian refiners, particularly in China and India. Compared to last month's flows, this acceleration represents an effort to clear export backlogs caused by the temporary closure of the strait, a chokepoint that handles nearly 20% of global oil consumption daily per U.S. Energy Information Administration data. Traders are monitoring the impact of this supply surge on Brent crude prices, as normalized logistics typically ease market risk premiums.
Regarding market performance, Saudi Aramco (2222.SR) shares stood at 26.12 SAR at close July 1, 2026, trading within a daily range of 26.04 to 26.30 SAR. Looking ahead, investors are focused on the upcoming China Manufacturing PMI data scheduled for June 30, which serves as a primary catalyst for gauging future crude demand in Saudi Arabia's largest export market.