Three Saudi supertankers carrying 6 million barrels of oil have passed through the Strait of Hormuz, according to data from global trade intelligence firm Kpler.
A Saudi tanker switched its transponder in the Gulf of Oman on Thursday after hiding its location for more than two months. The crossing took place after President Donald Trump and Iranian President Masoud Pezeshkian signed an agreement on Wednesday aimed at reopening Hormuz.
Vice President J.D. Vance told reporters late Thursday that more than 12 million barrels of oil passed through Hormuz overnight.
“This is the highest amount since the conflict began,” Vance said at a White House press briefing. Before the war, approximately 14 million barrels of oil and 6 million barrels of refined products per day passed through Hormuz.
U.S. Central Command later announced that its navy had lifted the blockade of Iran.
No significant traffic increases were observed in Kpler as of Thursday morning. Before the Iran war, more than 100 ships passed through the strait every day, dozens of them tankers.
“The floodgates haven’t opened and there hasn’t been a mass spill yet,” said Matt Smith, head of commodity research at Kepler. Smith said shippers remain hesitant to cross Hormuz.
Saudi tankers are very large crude carriers (VLCCs), each capable of carrying up to approximately 2 million barrels of oil. Kpler said the Shaden was on its way to Kiiri, Japan, and the Awtad was headed for Ulsan, South Korea. Jaham’s destination has not yet been revealed.
At least five Iranian vessels have crossed the U.S. naval blockade since June 16, according to Lloyd’s List Intelligence. Three of the ships were state oil tankers that left the Gulf of Oman.
Kupler estimates that the 118 tankers stuck in the Persian Gulf could be able to sail through Hormuz within 15 days if the shipping industry gains confidence in the Iran deal. Mr. Kupler estimates that as many as 12 tankers could enter the Gulf each day to recover oil within 30 days of the deal, still well below pre-war levels.
The Joint Maritime Information Center this week downgraded the threat assessment for Hormuz from “severe” to “substantial.” The center is a U.S.-led maritime security organization headquartered in Bahrain that coordinates between allied navies and merchant ships in the Middle East.
JMIC warned shippers that an attack in Hormuz remains a “strong possibility” and sea lane mines remain a threat. However, he noted that the Iranian Revolutionary Guards’ behavior has become “less erratic” since Washington and the Iranian government announced the deal.
