On Tuesday, three supertankers navigated the Strait of Hormuz, signaling a potential resumption of Gulf gas shipping, as seven Qatar-linked LNG tankers have entered the area in recent weeks. Ship-tracking data indicates that Iranian-affiliated tankers are also active in the vital waterway, with increased traffic coinciding with ongoing U.S.-Iran negotiations.
These talks, which began on Sunday and concluded the following day, resulted in an agreement for a roadmap toward a permanent deal within 60 days. The U.S. announced a sanctions waiver until August 21, alleviating concerns about global oil and LNG supplies and contributing to lower prices. Analysts expect more crude oil cargoes stranded in the Gulf since the war to exit soon, as sanctioned tankers continue to transport Iranian oil.
On Tuesday, two Trafigura-operated Very Large Crude Carriers (VLCCs), each carrying 2 million barrels of crude, departed the strait. Another VLCC, Universal Glory, chartered by GS Caltex, also left with Saudi crude. Additionally, two sanctioned Suezmax tankers were observed entering the strait.
Recent ship-tracking data revealed that seven QatarEnergy-controlled LNG tankers have recently moved to reload in the Gulf, the highest number since the onset of the conflict. Despite a recent explosion at a gas processing facility, Qatar’s LNG operations remain unaffected. However, the threat of mines continues to pose challenges for shipping in the Strait of Hormuz.
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