According to Bloomberg, Iran has significantly increased its oil exports through the Strait of Hormuz. The publication reports that the country has reached its “highest level” of shipments since the conflict erupted in late February. 

This was made possible by the resumption of shipping in the region, which is linked to changes in U.S. policy. Currently, three supertankers subject to U.S. sanctions—namely the Elva, Virgo, and Vigor—are passing through the Strait of Hormuz. Together, they are carrying approximately 6 million barrels of Iranian oil. All vessels are heading toward the Singapore area, where Iranian oil is typically delivered for onward shipment to China. 

Earlier, Washington decided to lift certain restrictions on ships calling at Iranian ports. In addition, Bloomberg reports an increase in overall traffic through the Strait of Hormuz, which, prior to the conflict, accounted for about 20% of global oil and liquefied natural gas shipments.

The strait is one of the key arteries of the global energy market, and any changes in its operations have serious consequences for the global economy.