Iran Moves 12 Million Barrels Through Hormuz as US Revokes Oil Sale Permission
Updated
Updated · Bloomberg · Jul 14
Iran Moves 12 Million Barrels Through Hormuz as US Revokes Oil Sale Permission
3 articles · Updated · Bloomberg · Jul 14
Summary
Six US-sanctioned supertankers capable of carrying 12 million barrels crossed the Strait of Hormuz into the Gulf of Oman in the past week with their transponders switched off.
The voyages came after Washington revoked Tehran's temporary permission to sell oil on July 7 and as the Trump administration threatened to reimpose a blockade of Iranian ports.
Ship-tracking data compiled by Bloomberg showed the tankers were part of a broader effort by Iran-linked vessels to keep crude moving despite tighter US pressure.
The movements suggest Tehran was already trying to preserve exports through Hormuz before any renewed US maritime restrictions take full effect.
Will the US now target the global network enabling Iran's 'shadow fleet'?
Beyond oil prices, how will a closed Hormuz Strait impact global access to food and medicine?
US-Iran Escalation in 2026: Sanctions, Tanker Attacks, and the Strait of Hormuz Oil Supply Threat
Overview
On July 7, 2026, the US Treasury implied the revocation of Iran’s oil sale waiver, linking any sanctions relief to progress on a peace agreement. This move, combined with a series of attacks on tankers in the Strait of Hormuz, immediately disrupted global oil and financial markets. Analysts described Iran’s actions as a targeted campaign to destabilize the region, while hazardous conditions in the strait persisted. These escalations dismantled recent ceasefire efforts, heightened market uncertainty, and underscored the direct connection between US policy shifts, regional security risks, and volatility in global energy flows.