Yemeni Houthi militants continue to threaten shipping in the Red Sea and attack Saudi oil tankers, forcing Saudi Arabia to accelerate the restructuring of its crude oil export routes. According to Bloomberg Ship Tracking data, at least eight very large crude carriers (VLCCs) are heading toward the Egyptian Mediterranean port of Sidi Kerir and are expected to arrive in stages over the coming weeks through mid-August. Saudi Aramco is increasing crude oil exports through this port and plans to utilize Egypt’s Suez-Mediterranean (SUMED) pipeline—which connects the Red Sea and Mediterranean transport systems—to enhance export flexibility, while also exploring new pricing mechanisms to address the increased transportation costs resulting from the rerouting.