Saudi Aramco resumes oil exports, Qatar readys LNG carriers

Saudi Aramco and QatarEnergy are moving oil and natural gas back onto world markets after weeks of war-related disruptions, testing whether the U.S.-Iran ceasefire can keep the Strait of Hormuz open.

Aramco resumed exports from its Ras Tanura terminal, Saudi Arabia’s largest oil port, with two supertankers loading crude while a third waited offshore, Reuters reports.

Meanwhile, at least eight LNG carriers have gathered outside QatarEnergy’s Ras Laffan complex, the world’s largest liquefied natural gas export facility, with additional vessels heading toward the terminal, according to Bloomberg.

The push to restart exports comes despite lingering security concerns after an Evergreen Marine cargo ship was struck by an unknown object in the Strait of Hormuz on Thursday, prompting the British navy to suspend escort operations while shipping companies reassess the risks of using the waterway.

Each of the tankers at Ras Tanura can carry about 2 million barrels of crude, and the terminal exported more than 5 million barrels a day before the conflict.

Aramco last loaded a China-bound cargo there on March 8 before shifting exports to the Red Sea port of Yanbu after shipping through Hormuz was disrupted.

U.S. Secretary of State Marco Rubio ended a three-day Gulf tour on Thursday, saying all six GCC countries support keeping the Strait of Hormuz free of tolls and restrictions on commercial shipping instituted by Iran.