Shipping data indicates that at least three tankers carrying Iranian crude oil have successfully navigated past a US maritime blockade this week, with another empty vessel heading towards the Gulf of Oman. This movement follows the establishment of a framework agreement between the United States and Iran, which has led to the reopening of the strategically vital Strait of Hormuz.
This resumption of crude shipments signals a gradual recovery in Iran's oil exports, which is anticipated to contribute to increased global crude supply.
Vessel tracking data from shipping analytics firms Kpler and Vortexa shows that two very large crude carriers (VLCCs), the Hero II and the Diona, each loaded with approximately 2 million barrels of crude, have transited the Gulf of Oman and are sailing eastward.
Data from Kpler, Vortexa, and LSEG indicates that the Suezmax tanker Sonia I, carrying around 1 million barrels of crude, has also breached the blockade and is en route to Singapore. According to Kpler, the Hero II completed loading in late March, while the Diona and Sonia I loaded their cargo between April 8th and 9th.
Further data from Kpler and LSEG shows another Iran-linked VLCC, the Stream, which is currently empty, is sailing towards the area previously under US blockade.
Kpler data reveals that Iran's crude exports had plummeted to a six-year low of about 260,000 barrels per day in May. This decline was a consequence of US maritime blockade measures implemented after Iran restricted shipping traffic through the Strait of Hormuz. This level represented less than one-fifth of the country's 2025 export target of 1.67 million barrels per day.
A senior US official stated on Tuesday that, under a memorandum of understanding signed by both parties to de-escalate tensions, the United States will permit Iran to immediately resume sales of crude oil and refined products on the international market.
Market expectations of a sustained increase in Middle Eastern crude supply have contributed to a decline in international oil prices. Having surged following the outbreak of conflict on February 28th, prices have now retreated to their lowest level in three months.
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