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Market Chatter: Petrovietnam Urges US Navy to Allow Iraqi Crude Tanker Through Gulf Blockade

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Petrovietnam Oil, the trading arm of Vietnam's state oil company, has urged the US Navy to allow a crude oil tanker filled with Iraqi oil to sail through the Persian Gulf, Reuters reported Tuesday.

According to ship tracking data from the MarineTraffic platform, the Maltese-flagged carrier Agio Fanourios I set sail through the Strait of Hormuz on May 10, reaching the Gulf of Oman the following day, before making a U-turn after US forces ordered its redirection, according to the US Centcom's statement to Reuters.

The company's Vice President, Hoang Dinh Tung, noted in his letter that the cargo was of "extreme importance to Nghi Son Refinery (NSRP), to the Socialist Republic of Vietnam and to the Vietnamese people," which was sent to US military and diplomatic missions.

It also highlighted the fact that NSRP's feedstock inventories were at critical levels, which could have "cascading consequences for millions of Vietnamese consumers, businesses, public services and industries."

Petrovietnam did not immediately respond to' request for a comment on this story.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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