Iran Resumes Kharg Oil Loadings With 3 Tankers After 6-Week US Blockade Ends
Updated
Updated · Bloomberg · Jun 22
Iran Resumes Kharg Oil Loadings With 3 Tankers After 6-Week US Blockade Ends
3 articles · Updated · Bloomberg · Jun 22
Summary
Three very large crude carriers — each able to haul about 2 million barrels — are now moored at Kharg’s Sea Island terminal, signaling Iran has restarted crude loadings after roughly six weeks.
The restart followed the lifting of a US Navy blockade on Iranian ports, with an interim US-Iran deal reopening supply lines and allowing Tehran to push ahead with exports.
That renewed flow comes as Iranian sellers deepen July discounts to China to $2.50-$5 a barrel, versus about $1 before the deal, suggesting Tehran is moving quickly to place additional cargoes.
Kharg’s return adds to signs that millions of barrels of Iranian crude are re-entering the market, with implications for regional supply and pricing.