Middle Eastern Producers Continue Oil and LNG Loading Amid US-Iran Tensions

According to LSEG shipping data and a U.S. official statement, Middle Eastern oil producers continued loading crude oil and liquefied natural gas on June 29 despite recent vessel attacks and escalating US-Iran military clashes in the Strait of Hormuz. Four very large crude carriers (VLCCs), each with a capacity of 2 million barrels, were operating at loading facilities including Saudi Arabia's Ras Tanura and UAE ports. Three VLCCs that departed over the weekend activated "silent mode"—disabling transponders to reduce attack risk—while one super tanker exited the waterway for Japan. The U.S. and Iran agreed Sunday to halt recent hostilities and resume negotiations over the strategic shipping route.
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