Strike on Tehran — key oil terminal halted
The US naval blockade has effectively halted Iranian oil exports: on Kharg Island, the key terminal, no tanker has been loaded for a week. Satellite images confirm empty berths, and the number of vessels in the waiting area has dropped to a minimum. About 90% of exports go through Kharg. Analysts consider the blockade effective, but Tehran is not ready to yield, believing it retains an advantage in the standoff over the Strait of Hormuz. Revenue is still coming from previously shipped cargoes, but reserves may run dry.
Iran's oil exports have effectively stopped due to the renewed US naval blockade. On Kharg Island, the key export terminal, no tanker cargo has been loaded for at least a week. Windward satellite images show all three berths empty, and on Tuesday only 16 vessels were in the waiting area—the minimum since early last month. About nine out of ten barrels of Iranian exports are shipped from Kharg, making the halt critical for the country's economy. According to Kpler and Energy Aspects, activity ceased on July 31 after Washington reinstated the port blockade in mid-July amid the collapse of the agreement on the Strait of Hormuz. Richard Bronze of Energy Aspects said the blockade is effective, but Tehran will not make concessions, believing it retains an advantage in the standoff. Iran continues to receive revenue from previously shipped supplies—26 tankers are off the coast of Malaysia for transshipment to China. However, these revenues may soon run dry. The blockade also hinders the return of empty tankers. Storage volumes at Kharg have not increased, which may indicate a reduction in production.