**[Saudi Arabia Sells Nearly 100 Million Barrels of Crude Oil to Asian Buyers, Taking on Transportation Risks]** BlockBeats News, September 24: According to informed traders, Saudi Arabia has sold nearly 100 million barrels of crude oil to Asian buyers since mid-last week, with delivery periods concentrated in October and November. Buyers include refineries in India, Japan, and South Korea. This batch of crude oil will continue to be transported to Asia via the Strait of Hormuz, representing a volume equivalent to approximately one day of global oil demand. This suggests that Saudi Arabia's crude oil flow to Asia through the Strait of Hormuz may more than double in the near term. Due to rising shipping risks in the Strait of Hormuz and soaring freight costs, an increasing number of Asian refineries are unwilling to arrange tankers to enter high-risk waters on their own. In this sale, Saudi Aramco has proactively taken on logistics arrangements, directly delivering crude oil to Asian customers, effectively transferring part of the vessel, insurance, and navigation risks from buyers to sellers. Currently, transportation through the Strait of Hormuz has not been completely disrupted. Rystad Energy estimates that approximately 6 to 7 million barrels of crude oil are still transported daily via the southern route of the Strait of Hormuz, with an additional 2 million barrels exported through UAE pipelines. However, transportation costs have surged significantly. Windward data shows that spot rental rates for very large crude carriers (VLCCs) peaked at $1 million per day on September 11, compared to the normal range of $30,000 to $50,000 per day. Meanwhile, Saudi Arabia's East-West pipeline, which connects eastern oil fields to the Yanbu port on the Red Sea, is gradually recovering but has not yet fully resumed operations. Bloomberg, citing traders, reported that Saudi Aramco is still in the early stages of restarting and hopes to achieve meaningful recovery by this Saturday. With the diversion capacity between Hormuz shipping, Red Sea exports, and the East-West pipeline not yet fully restored, transportation routes and logistics costs are becoming critical factors affecting the actual supply of Middle Eastern crude oil and the landed prices for Asian refineries. [Original Link]