Oil tankers with 35 million barrels exited Persian Gulf through Strait of Hormuz since Iran deal

• The U.S. Navy lifted its blockade of Iran on June 18, and the Treasury Department waived sanctions on Iranian oil sales through August
• The Joint Maritime Information Center downgraded the threat level for ships crossing Hormuz from 'critical' to 'moderate' following implementation of the U.S.-Iran agreement
• Over 11,000 seafarers remain stuck in the Persian Gulf, with the UN's International Maritime Organization implementing an evacuation plan backed by Iran, Oman, the U.S., and other Gulf states

Summary: Oil Flows Resume Through Strait of Hormuz Following U.S.-Iran Agreement

Key Developments:

At least 20 oil tankers carrying 35 million barrels have exited the Persian Gulf through the Strait of Hormuz since a U.S.-Iran deal reopened the critical maritime passage, according to Kpler data. These non-Iranian vessels had been stranded for over three months after Tehran effectively closed the strait early in an unspecified conflict.

Critical Figures:

• Current oil shipments through Hormuz: approximately 4.8 million barrels per day (bpd)
• June flows: highest since the February 28 U.S.-Israeli attack on Iran
• Pre-war levels: 15 million bpd (current flows remain significantly below this benchmark)
• Iranian tankers: 21 million barrels exited in June
• Additional shipments: 51 million barrels from tankers loaded since late April

Timeline:

• February 28: U.S. and Israel attacked Iran
• June 4: Threat level classified as "critical"
• June 18: U.S. Navy lifted Iran blockade
• Current: Threat level downgraded to "moderate"
• August: Treasury Department sanctions waiver extends through this month

Market Implications:

The reopening significantly improves global oil supply chains, particularly for Asian markets where most shipments are destined (arrival expected early August). However, current export levels remain 68% below pre-war capacity, suggesting continued supply constraints. S&P Global projects oil prices in the $70-$85 range.

The International Maritime Organization announced evacuation plans for 11,000+ stranded seafarers, backed by Iran, Oman, the U.S., and Gulf states, indicating regional cooperation and improving maritime security conditions.