Oil Tankers Finally Leave Strait of Hormuz After Months of Delay
Oil Tankers Finally Leave Strait of Hormuz After Months of Delay
Three supertankers carrying about six million barrels of Middle East crude oil have finally begun crossing the Strait of Hormuz toward Asian markets after being stranded in the Gulf for more than two months amid heightened regional tensions.
According to shipping data from LSEG and Kpler cited by Reuters, the vessels were among the few tankers allowed to leave the Gulf this month through a transit route reportedly approved by Iran.
The ships are carrying crude oil from Iraq, Kuwait and Qatar to major Asian destinations including China and South Korea.
One of the vessels, the South Korean-flagged Universal Winner, is transporting roughly two million barrels of Kuwaiti crude and is expected to arrive in Ulsan, South Korea, in June.
Two Chinese-linked tankers are also moving through the strait with millions of barrels of Iraqi and Qatari crude onboard.
Shipping activity through the Strait of Hormuz has remained severely disrupted since the escalation of the U.S.-Israel conflict involving Iran earlier this year.
