The cost of Saudi oil travel has increased 10-fold.

The cost of Saudi oil travel has increased 10-fold. 🔹The cost of war insurance for tankers related to Saudi Arabia in the Red Sea has increased approximately 3 times compared to previous weeks, reaching about 3 percent of the ship's value; the insurance rate for ships bound for southern Saudi ports may also increase by up to 7 percent. 🔹Considering insurance, tanker freight, and fuel, the cost of each oil transport trip from Saudi Arabia has at least increased 10 times compared to before, with even greater increases on some routes. 🔸Meanwhile, the loading of tankers at the port of Yanbu has not yet resumed, and threats against ships associated with Saudi Arabia near Bab al-Mandab and recent attacks on oil infrastructure have increased the risk of using the Red Sea route.