According to a report by Lloyd's List Intelligence, tanker traffic at Saudi Arabia's Yanbu port has declined by more than a third following the Houthis' July 20 announcement of a blockade on Saudi vessels in the Bab al-Mandeb strait. To maintain crude exports, Saudi Aramco is reportedly utilizing a three-part operation involving shuttle tankers to Egypt and the SUMED pipeline, a process that the report states increases tanker requirements and extends delivery times for Asian buyers.
Carnival Stock Rises As Oil Prices Fall After MoU - Carnival (NYSE:CCL)
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Carnival Stock Rises As Oil Prices Fall After MoU - Carnival (NYSE:CCL)
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- currentsapi(Mixed)By Evette Mitkov
- Carnival shares are powering higher. Why is CCL stock surging? U.S., Iran Strike Deal To End Hostilities, Reopen Strait After more than three months of conflict and a series of stalled diplomatic efforts, the United States and Iran signed a 14-point memorandum of understanding …
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