Iran has ramped up the amount of oil it sends openly through the Strait of Hormuz to the highest since the war began, as shipping activity picks up while Tehran and Washington seek a lasting peace deal, Bloomberg reported.
About 6 million barrels are on three U.S.-sanctioned supertankers that entered the chokepoint early Monday, indicating they are going to waters off Singapore, where Iranian crude is known to be transferred onto ships that often deliver to China.
The movements come after the U.S. lifted its blockade on ships visiting Iranian ports, and show how the Islamic Republic is quickly restarting crude production, including resuming loadings from Kharg, now that shipments are able to reach global markets.
Iran has ramped up the amount of oil it sends openly through the Strait of Hormuz to the highest since the war began, as shipping activity picks up while Tehran and Washington seek a lasting peace deal.
About 6 million barrels are on three U.S.-sanctioned supertankers - Elva, Virgo and Vigor - that entered the chokepoint early Monday, ship-tracking data show. They are all indicating they are going to waters off Singapore, where Iranian crude is known to be transferred onto ships that often deliver to China.
