Tankers Exit Strait of Hormuz With 6 Million Barrels
Three supertankers carrying Middle East crude have exited the Strait of Hormuz after waiting over two months due to regional conflict. The vessels are transporting oil to South Korean and Chinese refineries while shipping risks remain high for vessels navigating the strategic waterway.
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Three supertankers carrying 6 million barrels of Middle East crude exited the Strait of Hormuz on Wednesday after waiting two months. The United States-Israel war on Iran has restricted traffic through the energy corridor since February 28. Resuming shipments through the strait, which handles 20% of global oil, could stabilize supply chains for Asian refiners.
