At least five supertankers carrying approximately 10 million barrels of Saudi crude oil loaded at Ras Tanura have departed the Strait of Hormuz, as Saudi Aramco switches to spot pricing to accelerate sales in Asia, according to trade sources and shipping data cited by Reuters.

Aramco resumed loading operations at Ras Tanura, the world's largest oil port, on Friday after a nearly four-month hiatus.

Aramco and Sonatrach have cut LPG prices for July,

and the company is working to increase loadings and shipments to Asia, adding to the immediate surplus that has driven Brent crude down to around $70 a barrel from nearly $120 in March following the preliminary peace agreement between the United States and Iran.

In addition to using a fleet of tankers belonging to Bahri to deliver shipments, the world's largest oil exporter has offered crude to its Asian customers on a spot basis to attract demand amid intensifying competition among suppliers, according to several trading sources.