In the case of the large oil tanker affected by the Iran conflict, a quarter of them has successfully sailed out of the strait

May 29 — Amid the outbreak of hostilities in Iran, roughly a quarter of non-Iranian large oil tankers initially stranded in the Persian Gulf when the conflict began have gradually managed to break free via slow, covert maneuvers and successfully departed the area. Per shipping data compiled by Bloomberg, a total of 109 large vessels (defined as those with a carrying capacity of 700,000 barrels or more) became trapped after fighting erupted on February 28, when the Strait of Hormuz was effectively closed. As of press time, 29 of these vessels have safely transited this strategic chokepoint. While the cargo released so far accounts for only a tiny fraction of the total crude oil and refined products still stranded in the Gulf, against the backdrop of a rapidly shrinking global market inventory buffer, this cargo was immediately snapped up by the market upon hitting the market. Additionally, as many vessels have disabled their Automatic Identification System (AIS) to avoid risks, the actual number of vessels that have successfully departed is likely higher than the cited statistics. — Jinse Finance