Azernews.Az

Ulviyya Poladova

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Iran has increased its oil exports through the Strait of Hormuz to their highest level since the outbreak of regional tensions, following the removal of restrictions on Iranian shipping by the United States, AzerNEWS reports, citing Bloomberg.

According to the information, the supertankers "Elva", "Virgo", and "Vigor" departed from Iran's Kharg Island on June 22 and began their voyage toward Singapore. Experts note that Iranian crude oil is often transferred to other vessels near Singapore before being shipped to buyers in China, Iran's largest oil customer.

Earlier, Iran exported approximately 20 million barrels of oil from the port of Chabahar, located on the Gulf of Oman, highlighting a significant increase in the country's energy exports.

Shipping activity through the Strait of Hormuz has also been rising steadily since last week's signing of a 14-point memorandum of understanding between Iranian President Masoud Pezeshkian and U.S. President Donald Trump.

The Strait of Hormuz remains a critical route for global energy markets, with a significant share of the world's oil exports passing through the narrow waterway each day. Increased traffic through the strait is being closely monitored by traders and policymakers as a potential indicator of improving regional stability and growing energy supply flows.

The Strait of Hormuz is a narrow maritime passage between the Persian Gulf and the Gulf of Oman, holding significant strategic importance as approximately 20% of global oil supplies and around 25% of liquefied natural gas (LNG) exports pass through it. Essentially, it serves as an energy artery for countries in Asia, Europe, and even the United States.

The strait separates Iran from Oman, and in some areas, the width of the shipping channel is only two miles on each side. Given its critical role in global energy supply chains, ensuring the safety and security of this vital waterway is paramount for international trade and economic stability.