9 Million Barrels of Saudi and Iraqi Oil Delayed Amid Red Sea Chaos

Tankers carrying nearly 9 million barrels of oil from Saudi Arabia and Iraq will delay their deliveries as they have diverted away from the Red Sea/Suez Canal route in recent days, and are now headed on the longer route via Africa, Bloomberg vessel-tracking data showed on Friday. The tankers loaded crude oil and petroleum products at Saudi Arabia’s ports of Ras Tanura and Jubail and at Iraq’s port of Basra and were originally headed to Europe via the Red Sea and the Suez Canal. However, those tankers diverted away from the Bab el-Mandeb…