Updated
Updated · Bloomberg · May 12
Vietnam Urges US to Let 1.99 Million-Barrel Tanker Through Gulf Blockade
Updated
Updated · Bloomberg · May 12

Vietnam Urges US to Let 1.99 Million-Barrel Tanker Through Gulf Blockade

1 articles · Updated · Bloomberg · May 12
  • Agios Fanourios I turned back Monday just after clearing the Strait of Hormuz, prompting Vietnam’s state oil company to ask the US Navy to let the cargo proceed.
  • The very large crude carrier was carrying 1.99 million barrels of Iraq’s Basrah Medium crude, which Vietnam said is critical to the country’s economy.
  • Ship-tracking data and paperwork seen by Bloomberg showed the vessel made a mid-ocean U-turn near the point where the US naval blockade begins outside the Persian Gulf.
  • The tanker is managed by Athens-based Eastern Mediterranean Maritime, underscoring how the blockade is disrupting long-haul oil flows beyond the immediate Gulf region.
With a key partner facing an energy crisis, will America's naval blockade against Iran bend or break?
As the Hormuz blockade strangles global trade, are soaring oil prices just the first symptom of a deeper economic crisis?