Oil & Energy
Oil Tankers Steer Clear of Strait of Hormuz Amid Trump Threats, Iran Warnings, Reuters Analysis Shows
Only two Iranian-linked tankers exited the Persian Gulf on Monday, as other vessels actively steered clear of the Hormuz, after US President Donald Trump threatened to blockade Iranian ports, according to a Reuters report, citing shipping data from LSEG and Kpler.On Sunday, in a post on X, US Central Command said that it will begin blockading all maritime traffic entering and exiting Iranian ports, starting from Monday, at 10 a.m. ET.The post also noted that US efforts will not impede the freedom of navigation for other vessels transiting the Strait of Hormuz "to and from non-Iranian ports."This, however, has failed to assuage concerns among commercial vessels, with VLCC Agios Fanourios I, a Malta-flagged container making an attempt to enter the Gulf on Sunday, to load up on Iraqi Basra crude for Vietnam, before turning back.Eastern Mediterranean Maritime, which manages Agios Fanourios I, did not immediately response to' request for a comment.A Liberia-flagged very large crude carrier, is similarly, sailing empty, and is reportedly headed towards Basra in Iraq, according to ship tracking data.Meanwhile, Iran has threatened all ports in and around the Persian Gulf, if the US goes ahead with its planned naval blockade against the country. In a statement on Monday, Iran's armed forces warned that security for ports in the surrounding region is "either for everyone or for no one," according to a Bloomberg report.The country is also expecting to restore its damaged refining and distribution facilities to 70% to 80% of their pre-war capacities over the next two months, Reuters reported, citing a senior oil official.Mohammad Sadeq Azimifar, Iran's Deputy Minister of Oil, told the Student News Network that repairs had already begun, and that part of the Lavan refinery was expected to resume operations within the next 10 days.Iran's Energy Ministry did not immediately respond to' request for a comment on this story.