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Iraq Tanker Navigates Strait Amid Iran Exemption
5 Apr
Summary
- An oil tanker loaded with crude from Iraq passed through the Strait of Hormuz.
- Iran stated Iraq has a special exemption to use the waterway.
- The Strait of Hormuz closure has significantly increased oil and fuel prices.
The Suezmax Ocean Thunder, an oil tanker that departed Iraq's Basrah terminal in early March, has traversed the Strait of Hormuz en route to Malaysia. This transit occurred a day after Iran announced it had granted an exemption for shipping restrictions to "brotherly Iraq." Such vessels typically carry around 1 million barrels of crude oil.
Recent movements of the Ocean Thunder indicate it utilized a northern route within the strait, a passage apparently approved by Tehran. Tracking vessel movements can be imprecise due to potential electronic interference or intentional transponder deactivation. Oil traders have been closely monitoring the strait since its effective closure on February 28th, following attacks on Iran, which has subsequently driven up crude oil and product prices.
