Market Chatter: Saudi Aramco Considers Bypassing Hormuz for 2027 Oil Contracts

07:34 AM EDT, 10/08/2026 (MT Newswires) -- Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, is considering changes to its long-term oil supply contracts for 2027 that could allow deliveries to customers without passing through the Strait of Hormuz, Bloomberg News reported Thursday, citing people familiar with the matter. The state-owned oil company is discussing the potential changes with customers, including the option of delivering cargoes directly to Asian buyers and offering a choice of pricing benchmarks, according to the report. The discussions are expected to conclude by the end of 2026. Details such as pricing, freight arrangements and eligible volumes remain under consideration, Bloomberg added. Aramco and Saudi Energy Ministry did not immediately respond to requests for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)