Middle East Speed Up Oil Sales

Tracking data show Middle East countries load crude oil, LNG onto ships for export past few days.

Strait of Hormuz energy transport slow last week. Container ship, tanker attack spark retaliation, pressure US-Iran peace deal. June 28, US official say both sides agree stop hostilities, restart talks on key waterway.

June 29, LSEG data show 2-million-barrel supertanker load oil at Ras Tanura, Saudi Arabia. Three other supertankers load, turn off transponders after leave port last weekend. Action common in war to cut attack risk in Gulf.

Data show one supertanker reappear on tracking today after exit Strait of Hormuz, head to Japan.

Two other supertankers enter strait June 28. Anchor at UAE port to load crude.

Tankers, cargo ships move in Gulf of Oman June 16. Photo: AP

Tankers, cargo ships move in Gulf of Oman June 16. Photo: AP

Iran speed up oil sales after Washington waive sanctions 60 days. Saturday, Tehran load oil from both Kharg Island ports first time in week, Windward data show.

Kpler data show two Iran-flagged supertankers enter Strait of Hormuz June 28. About 8 million barrels UAE, Qatar crude export on four tankers last weekend.

Gulf export—one-third world oil supply—speed up, pressure price. Brent crude drop 10.6% last week, third straight weekly drop. New attacks past few days nudge price up today, near 72 USD barrel.

"If Strait of Hormuz stay open, crude price fair. If weekend tension risk escalate conflict, oil cheap," Tony Sycamore, IG market analyst say.

LNG export speed up too. Kpler data show ship Al Kharaitiyat head to Kuwait after load at Ras Laffan, Qatar. QatarEnergy ship Al Kharsaah wait off Qatar.

Ship Mraweh load UAE Das Island June 21, deliver west India July 5. QatarEnergy ship Al Hamla carry Ras Laffan LNG to China early next month.