Summary

Saudi Arabia, the United Arab Emirates, and Qatar continue loading oil and LNG onto vessels at their Persian Gulf ports despite the attacks on two commercial vessels near the Strait of Hormuz and the weekend tensions between the U.S. and Iran. The Middle Eastern producers are rushing to load oil and LNG while the Strait of Hormuz is formally open, even if traffic has slowed since Friday, due to the attack on a fully-laden oil supertanker in the Strait of Hormuz, Reuters reported on Monday, quoting ship-tracking data.

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