Media: Saudi Aramco proposes spot oil deliveries via tenders

Saudi Aramco has proposed spot oil deliveries through a series of rare tenders.

According to Report, citing Bloomberg, this decision comes amid the effective closure of the Strait of Hormuz, which is forcing shipments to be redirected via the Red Sea.

Specifically, Saudi Aramco has offered three grades of oil for purchase: Arab Extra Light, Arab Heavy, and Arab Light.

In recent days, the company has offered around 4.6 million barrels of these grades.