Iranian Oil Tankers Rush Out of Strait of Hormuz

ILLUSTRATION PHOTO UNSPLASH/Haydn

JAKARTA - The increase in attacks in the Persian Gulf over the past two days and President Donald Trump's threat to reimpose a US-led naval blockade prompted Iran to immediately withdraw its oil tankers from the Strait of Hormuz.

According to TankerTrackers, a maritime shipping tracking service, Iran has shipped 10 million barrels of crude oil and fuel overnight. This is a significant increase.

Prior to Thursday, July 9, Iran had managed to pump a total of 60 million barrels of oil over the previous three weeks, according to Windward Intelligence.

As reported by CNN, on Wednesday, tanker operators were hesitant to enter and leave the strait because the uncertainty of the military situation caused many ships to choose to moor. According to MarineTraffic, the number of sailings crossing the Strait of Hormuz on Wednesday fell to 25, from the previous 49 the day before.

One of the causes of the decline in shipping activity in the strait on Wednesday, July 8, was the fear that ships entering the area would be trapped there. Most of the shipping on Wednesday moved from west to east (out of the Persian Gulf).

In addition to the United Arab Emirates - which has sent up to 65 million barrels of oil after the strait reopened - Iran's exports have surpassed other oil-producing countries.

The Iranian regime derives 50% of its revenue from oil sales, which are crucial to the country's post-war revitalization efforts.

The reimposition of US sanctions on Iranian oil on Tuesday this week does not seem to have dampened China's interest in making purchases; according to Windward Intelligence, as many as 32.3 million barrels of Iranian oil are currently on their way to China. through a fleet of "shadow" tankers.