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Saudi Floating Crude Off Egypt Clearing


The Saudi crude floating off Egypt’s Ain Sukhna began clearing this week according to Bloomberg. Vortexa figures also confirm the clearance with volumes halving to 10.5 million barrels.

  • On June 14, Vortexa counted 19.5 million barrels of Saudi crude on board 10 VLCC’s clustered outside Ain Sukhna, most of which had loaded in the second half of May.
  • The last time Saudi floated that much crude on tankers was during the pandemic.
  • All but one of the 10 VLCCs that were observed on June 14 have since unloaded the barrels, with four new VLCCs also arriving during that time.

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