One-fourth of the large oil tankers affected by the Iran conflict have successfully navigated out of the strait

Odaily Planet Daily News: Among the non-Iranian large oil tankers stranded in the Persian Gulf at the onset of the Iran conflict, approximately one-fourth have gradually managed to escape in a slow and covert manner, successfully sailing out of the area.

According to shipping data compiled by Bloomberg, following the outbreak of the conflict on February 28 and the effective closure of the Strait of Hormuz, a total of 109 large vessels (ships with a carrying capacity of 700,000 barrels or more) were trapped. Now, 29 of them have successfully traversed this strategic chokepoint. Although these released cargoes account for only a tiny fraction of the total crude oil and refined products still stranded in the Gulf, against the backdrop of global market inventory buffers shrinking at a record pace, these cargoes have been rapidly snapped up by the market as soon as they were released. Furthermore, given that many vessels have turned off their location broadcasting equipment to avoid risks, the actual number of vessels that have successfully escaped is likely higher than the above statistics. (Jin Shi)