Iranian oil exports come to a halt amid renewed US blockade - report

Iran's main oil export terminal at Kharg Island has been without tankers for at least a week, indicating the US naval blockade has halted Tehran's crude oil sales, according to recent shipping and satellite data reported by the Financial Times. The US reimposed the blockade mid-July following the collapse of an interim agreement to reopen the Strait of Hormuz.

Operations at Kharg Island, crucial to Iran's oil industry, ceased on July 31, with satellite images showing all three berths empty for an extended period. Only 16 vessels were anchored in the waiting area around Kharg on Tuesday, the lowest number since early last month. The blockade is effective, with little tanker traffic going in or out, though Iran has continued loading tankers at Kharg throughout its war with the US and Israel, making the current standstill one of the longest since the war began.

Iran may benefit from higher oil prices before the halted barrels are sold, but the blockade is also preventing Iran from replenishing its supply of empty tankers. Talks between Iran and Oman on a new shipping route through the strait have not yielded progress, and the US may lift the blockade and reinstate oil sanctions waivers if an acceptable agreement is reached.