Saudi Arabia resumes oil exports through Red Sea lane

Top oil exporter Saudi Arabia said on Saturday it has resumed all oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb.

Saudi Arabia halted temporarily oil shipments through the lane on July 25 after attacks on two oil tankers by Yemen’s Iran-aligned Houthi movement.

A statement by the Energy Ministry said shipments had resumed on Saturday

“The decision to resume oil shipment through the strait of Bab al-Mandeb was made after the leadership of the coalition has taken necessary measures to protect the coalition states’ ships,” Energy Minister Khalid al-Falih said in the ministry statement.

Saudi Aramco confirmed that shipping had resumed effective immediately.

“The company is careful to continue monitoring and evaluating the current situation in coordination with the relevant bodies and take all necessary procedures to ensure safety,” Aramco said in a statement.

Yemen, where a Saudi-led coalition has been battling the Houthis in a three-year war, lies along the southern end of the Red Sea, one of the most important trade routes in the world for oil tankers. The tankers pass near Yemen’s shores while heading from the Middle East through the Suez Canal to Europe.

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