US oil major Chevron is reportedly sending cargoes of Kazakhstan’s CPC Blend oil to Asia via the Cape of Good Hope rather than via the Red Sea in order to avoid the risk of Houthi attacks.

Reuters, citing industry sources and LSEG ship-tracking data, said the Kazakh CPC Blend crude is loaded at the Russian Black Sea terminal of Yuzhnaya Ozereevka, near Novorossisk and shipped out to Asia via the Suez Canal.