As tensions between the United States and Iran have escalated once more, with the U.S. President threatening to reinstate a blockade on Iranian ports, Tehran has urgently mobilized tankers over the past day to ship out approximately 11 million barrels of crude oil.
Tanker tracking data indicates that five Very Large Crude Carriers (VLCCs) and one Suezmax tanker have departed from Iranian ports. Among them, four tankers have transmitted location signals in the Gulf of Oman, while another crossed the Strait of Hormuz on Thursday.
This fleet set sail as the U.S. military conducted strikes against Iran for a second consecutive day, in response to Tehran's recent attacks on vessels. The already fragile temporary ceasefire agreement between the two nations is at risk of collapsing. The renewed deterioration of the situation has prompted other shipping companies to exercise greater caution, with most observable maritime traffic through the Strait of Hormuz nearly grinding to a halt.
The latest developments have also triggered significant volatility in oil prices. On Thursday, the price of London Brent crude oil held near $79 per barrel, marking a weekly increase of nearly 9%.
The 11 million barrels of oil roughly equate to one week of Iran's pre-conflict export volume, although it remains unclear whether these cargoes will find buyers. Earlier this week, following the U.S. revocation of sanctions waivers that had permitted Iran to sell oil, tankers carrying tens of millions of barrels of Iranian crude were effectively left in a state of limbo regarding their final destination.
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