Argaam Weekend | Who Is Really Steering the Ship?

Hormuz and Yanbu

11^thApril 2026

● Yanbu at Full Capacity, Europe in Shortage: The Commercial Mechanics Behind a Misdirected Supply Chain
● The Shelf Gap That Some Gulf Households Depend On

Topics of the Week

Yanbu at Full Capacity, Europe in Shortage: The Commercial Mechanics Behind a Misdirected Supply Chain

As Saudi Arabia ramped up refined product exports, chiefly jet fuel, through its Red Sea port of Yanbu in March 2026 due to the effective closure of the Strait of Hormuz, flows surged to near-record levels — with the pipeline feeding Yanbu running at full capacity. Many of these cargoes left port without a fixed buyer or destination, available to whoever offered the best terms.

The Shelf Gap That Some Gulf Households Depend On

On supermarket shelves, two products sit side by side: one carries a well-known national brand, the other carries the store's own name at a lower price. The gap between them is not merely a matter of consumer preference. For anyone who accounts for every dirham or riyal, it functions as a last line of defence against rising prices in times of global economic or geopolitical disruption.