"We've had no tankers loading for three days. That's certainly unprecedented since the conflict began."
"The three days in question were May 8, May 9, and May 11, 2026, at Kharg Island, the terminal that handles the bulk of Iran's seaborne crude exports. The analysis was driven by satellite imagery work from Bloomberg's Julian Lee, whose shadow study of the facility's storage tanks suggested the tanks are filling up, implying Iran is running short of both storage and tankers to load."
"Yet, since Bloomberg's report, satellites now confirm Iran's all-important Kharg Island hasn't loaded oil tankers for a fourth straight day on May 12th. With Trump arriving in Beijing for an important summit with China, Kharg suddenly going silent could give the President a powerful card to play. Up to 90% of Iran's oil exports go to China, making it a pivotal part of China's energy strategy."
"Exxon Mobil ( NYSE:XOM | XOM Price Prediction) CEO Darren Woods told investors that "as you get to the minimum working levels of inventory on the commercial side, you are going to lose one of these sources of supply," with prices likely to grind higher if the Strait stays shut."
No tankers have loaded at Kharg Island for multiple consecutive days, including May 8, May 9, May 11, and May 12, indicating a disruption in Iran’s seaborne crude exports. Satellite imagery suggests storage tanks are filling, implying Iran is running short of both storage space and available tankers to load. The disruption is framed as a short-term signal that requires monitoring for a sustained pattern. Oil prices have already repriced sharply, with Brent and WTI rising earlier in April. If loading remains frozen, commercial inventory cushions could thin quickly, increasing the likelihood of higher prices. Iran’s exports are heavily dependent on China, with up to 90% of shipments going there, making the situation geopolitically significant.
Read at 24/7 Wall St.
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