Aramco CEO: Exports Continue via Yanbu, Sidi Kerir and Port Said

The routing detail matters less than the framing: a major exporter is publicly stressing system inventory and alternative outlets, which reads as reassurance aimed at buyers pricing in disruption risk. The warning that physical crude has traded far above Brent points to a two-tier market where benchmark paper understates what refiners actually pay. The open question is whether these workarounds and inventories are sufficient to keep that physical premium from widening further.