10 Tankers with 20 mb of Saudi Oil at Anchor in Ain Sukhna, Egypt
Ten VLCC tankers that are holding about 20 mb of Saudi crude are at anchor in Ain Sukhna at the entrance of the Suez Canal in Egypt. The number of tankers and the amount of oil are the highest since the second quarter of 2020 when the oil market collapsed as lockdowns because of COVID-19 reduced demand.
While there are a few explanations, it is important to know the dynamics of VLCCs passing the Suez Canal:
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