West Asian oil and liquefied natural gas producers are pushing ahead with loading cargoes despite fresh ship attacks in the Strait of Hormuz and renewed strikes between the US and Iran, according to shipping data cited by Reuters. A fourth Very Large Crude Carrier (VLCC) was seen loading at Saudi Arabia's Ras Tanura terminal on Monday, even after a company helicopter crashed Sunday killing 14 people; the cause is unknown. Brent crude fell 10.6% last week — its third weekly decline — but rose on Monday after the weekend hostilities.
Oil tanker movements through the strait
Three other VLCCs loaded oil and went dark — transponders switched off — after leaving Ras Tanura over the weekend, LSEG data showed. One of these supertankers emerged Monday having exited the strait and is now heading for Japan, the data indicated. Two VLCCs entered the strait on Sunday and docked at a United Arab Emirates terminal to load crude, LSEG data confirmed. Saudi Aramco declined to comment, and the Abu Dhabi National Oil Co (ADNOC) said it does not comment on vessel positions as a matter of policy.
Iran accelerates oil loadings after sanctions waiver
Iran is accelerating oil loadings after Washington waived sanctions on its exports for 60 days. Tehran loaded simultaneously at both of its export terminals at Kharg Island on Saturday for the first time in nearly a week, according to maritime intelligence firm Windward. Kpler data showed Iranian-flagged VLCCs Dan and Hawk entered the strait on Saturday, while about 8 million barrels of Emirati and Qatari crude moved out on four VLCCs during the weekend. The National Iranian Oil Co could not be immediately reached for comment.
Rising exports from the Gulf — a region accounting for a third of the world's oil supplies — are sending global oil prices lower, Reuters reported. IG Markets analyst Tony Sycamore said: "If you take the view that the Strait will continue with an uneven re-opening in the weeks and months ahead, then crude oil right here is reasonably priced with a downward bias." He added: "However, if you feel the risks are that one of these weekend flare-ups leads to the conflict re-igniting more broadly then crude oil prices here are just way too cheap."
LNG cargoes continue flowing
On liquefied natural gas, two additional ballast tankers appeared on ship-tracking data west of the strait on June 26 after going dark, while two other loaded LNG tankers have exited Hormuz. The Al Kharaitiyat is heading to Kuwait after loading at Qatar's Ras Laffan terminal, while another QatarEnergy-controlled vessel, the Al Kharsaah, is waiting off Qatar, Kpler data showed. Meanwhile, the ADNOC-controlled Mraweh, which loaded at UAE's Das Island on June 21, is scheduled to deliver its cargo to the Dahej terminal on India's west coast on July 5, according to Kpler data. Al Hamla, controlled by QatarEnergy, transporting a cargo loaded at Ras Laffan on June 18, is scheduled to reach China on July 3, LSEG and Kpler data showed. QatarEnergy did not respond to an email seeking comment.
Key vessel movements summary
| Vessel | Operator | Cargo | Origin | Destination | Status |
|---|---|---|---|---|---|
| VLCC (4th) | Saudi Aramco | Crude | Ras Tanura | TBD | Loading Monday |
| Dan (VLCC) | Iranian-flagged | Crude | Kharg Island | Strait exit | Entered strait Saturday |
| Hawk (VLCC) | Iranian-flagged | Crude | Kharg Island | Strait exit | Entered strait Saturday |
| Al Kharaitiyat (LNG) | QatarEnergy | LNG | Ras Laffan | Kuwait | Heading to destination |
| Al Kharsaah (LNG) | QatarEnergy | LNG | Ras Laffan | Waiting off Qatar | Waiting |
| Mraweh (LNG) | ADNOC | LNG | Das Island | Dahej, India | Scheduled arrival July 5 |
| Al Hamla (LNG) | QatarEnergy | LNG | Ras Laffan | China | Scheduled arrival July 3 |
Implications for commodity traders
For traders and analysts tracking global oil and LNG markets, the continued loadings despite attacks suggest operational resilience, but the risk of escalation remains. The 10.6% weekly drop in Brent signals that the market is pricing in sustained supply from the region, tempered by weekend price jumps. The sanctions waiver for Iran adds to supply expectations. Key watchpoints include whether the temporary halt in hostilities holds, and if more VLCCs emerge from the strait. LNG cargoes reaching India and China on schedule would support Asian demand. The next data releases — US EIA inventories and OPEC+ compliance — will provide further cues.
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