Saudi Arabia exported record volumes of crude oil from its Red Sea terminals in the days and weeks immediately preceding a warning from Houthi rebels that they would block the nation's shipments.
The surge in activity suggests the kingdom attempted to front-run potential disruptions to one of the world's most critical energy chokepoints.
Oil prices climbed more than 1% on Wednesday as geopolitical risks to global energy supplies intensified further.
Brent crude futures climbed above $90 a barrel on Monday, driven by intensifying geopolitical risks in the Middle East.
The price surge followed reports of continued US military strikes on Iranian targets and a significant escalation in regional tensions.
Oil prices climbed more than 1% on Wednesday as geopolitical risks to global energy supplies intensified further.
The move comes after reports that Iran has instructed Yemen’s Houthi rebels to stand ready to close the Red Sea shipping route.