Azernews.Az

By Alimat Aliyeva

Saudi Aramco has issued a series of rare emergency tenders to sell crude oil, offering urgent supplies to the market amid rising tensions affecting global energy routes, AzerNEWS reports.

According to a report cited by Bloomberg, the move comes as the Strait of Hormuz is effectively closed, forcing oil shipments to be redirected through alternative routes, including the Red Sea. The disruption has raised concerns among traders and energy analysts about potential supply shortages and higher transportation costs.

As part of the tenders, Saudi Aramco offered several key crude grades, including Arab Extra Light, Arab Light, and Arab Heavy, which are widely used by refineries in Asia and Europe.

In recent days, the company has reportedly offered around 4.6 million barrels of crude oil through these tenders. Market observers say such urgent sales are relatively uncommon for Saudi Aramco and typically occur during periods of significant volatility in global oil markets.

Analysts note that the situation could further increase pressure on global energy prices, as the Strait of Hormuz normally handles a large share of the world’s seaborne oil trade. Any prolonged disruption in the region may lead to tighter supplies, higher freight costs, and greater uncertainty for energy-importing countries.