Oil tanker 'armada' moves to Red Sea with closure of Strait of Hormuz

Oil tanker 'armada' moves to Red Sea with closure of Strait of Hormuz A massive flotilla of tankers is rushing to Saudi Arabia’s Red Sea coast to pick up crude oil that has been diverted as a result of Iran’s closure of the Strait of Hormuz. Between 24 and 30 large crude carriers are en route to the Saudi Arabian port city of Yanbu, where the East-West pipeline terminates, according to ship tracking data reported by Bloomberg and The Financial Times on Thursday.