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Update: Market Chatter: Saudi Aramco Restarts Crude Loadings in Strait of Hormuz

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(Updates with Saudi Aramco's response in the 7th paragraph.)

Energy giant Saudi Aramco restarted crude loadings from within the Strait of Hormuz last week, with more tankers lined up as it sells heavy crude on the spot market, Reuters reported Tuesday, citing shipping data and trade sources.

The Saudi Arabia-based state majority-owned company on Monday offered Arab Medium and Arab Heavy crude cargoes to certain Asian buyers, with loading available through ship-to-ship transfers off Fujairah in the UAE this month.

Between Aug. 12-16, three very large crude carriers took on about 2 million barrels of crude each from the Juaymah and Ras Tanura terminals, almost three weeks since the previous loading at these facilities, the report said, citing ship tracking data.

Saudi Aramco suspended sales after an escalation in hostilities between the US and Iran last month resulted in strikes on its tanker fleet in the Hormuz.

Meanwhile, two major Chinese shipping companies have started picking up oil cargoes outside the Gulf and have halted sending oil tankers through the two Middle East chokepoints due to the ongoing conflict, Reuters said in a separate report on Tuesday, citing industry executives, tanker trackers and a ship broker.

COSCO Shipping Energy Transportation and China Merchants Energy Shipping have avoided sending tankers through the Strait of Hormuz and Bab al-Mandeb since late July as security concerns disrupt oil flows to the world's largest importer, the report added.

Saudi Aramco declined to comment, while COSCO Shipping Energy Transportation and China Merchants Energy Shipping did not immediately respond to' request for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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