The Saudi Export-Import Bank would provide additional backing to the companies, with other Saudi insurers, international firms potentially joining

Tankers loading at the Red Sea port of Yanbu head north through Egypt's Suez Canal rather than south through the Bab el-Mandeb channel

The French president will host talks on economic ties and Middle East stability, while inaugurating the Franco-Saudi Strategic Partnership Council

The sovereign wealth fund is receiving 25% holdings in Al-Ittihad, Al-Ahli, Al-Hilal and Al-Nassr that are currently held by nonprofit foundations

The plan could give Japan and South Korea a bigger cushion against supply disruptions, although Japan may not have enough spare tank capacity