Saudis study diverting oil cargo routes

Trade and maritime sources told Reuters that if President Donald Trump blocks the country's oil imports, Saudi Arabia could alter the routes of tankers carrying about 40 million barrels of Saudi oil toward the U.S. 

According to the sources, the kingdom tried to seek storage options with ship owners last month when the vessels were chartered, but retreated due to high fees, with many owners trying to prevent the ships from being "tied up."

Oil market operators in Europe and Asia said saudis are expected to divert cargo to other markets. "Europe seems full, but certainly buyers would accept if the Saudis offered (oil) at very low levels… Some still have spaces or can reach agreements to place them on ships for some time," said a source. Saudi Aramco declined to comment.

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