Aramco Still Moving Oil via Red Sea

Saudi Aramco is continuing to send oil cargoes through the Red Sea despite the recent security concerns driven by Houthi rebel attacks on vessels passing the waters.

• “We’re moving in the Red Sea with our oil and products cargoes,” according to Mohammed Al Qahtani, who heads Aramco’s refining and oil trading.
• “The impact is on the costs of these shipments,” said Qahtani, “It’s increasing as a result of what’s happening. But overall it’s is very manageable.”
• The Saudis have called for restraint in the US and UK strikes against the Houthis, trying to keep its own peace talks alive with the Houthi rebels.