Oil
Iran oil terminals remain empty amid US blockade
Iran's primary oil-loading terminals have recorded no tanker dockings for weeks as a renewed US naval blockade halts crude exports.
Key points
- No crude tankers have docked at Kharg Island since late August, according to Rigzone reporting.
- Exports dropped from roughly 1 million barrels per day in July to zero.
- Iran has increased attacks on vessels transiting the Strait of Hormuz.
What happened
Iran's primary crude-loading terminals have experienced an unprecedented period of inactivity, with satellite imagery and tracking data indicating that no oil tankers have docked at Kharg Island since late August. Rigzone reported that this marks the longest stretch of halted operations at the facility since the US-Iran conflict began in February.
Data compiled by Bloomberg, Kpler, and Vortexa show that Iranian crude exports fell from nearly 1 million barrels per day in July to nothing after Washington reimposed its naval shipping ban in the middle of that month. While a brief ceasefire allowed some loadings in early July, subsequent enforcement has completely restricted outbound shipments. Tanker tracking indicates that facilities at Jask, situated at the eastern end of the Strait of Hormuz, have similarly remained idle.
As export channels closed, security incidents in regional waters escalated. According to alerts from the UK Maritime Trade Operations, attacks targeting vessels around the Strait of Hormuz rose to 25 in the first two weeks of October, compared with 18 incidents in September and 15 in August.
What comes next
With Iranian barrels removed from international trade, Chinese refiners and other traditional buyers are seeking alternative crude supplies and competing for available tonnage. This shift has contributed to rising global oil prices and increased freight rates. Analysts continue to monitor maritime security in the Persian Gulf as tensions persist around key chokepoints.
Why it matters
For global energy markets, the complete removal of Iranian crude supply tightens balances significantly, putting upward pressure on international benchmark prices. According to US EIA figures from 14 October 2026, Brent spot prices stood at $126.55 per barrel, reflecting broader market tightness. For energy investors and African producers, sustained disruptions in the Middle East heighten volatility and alter traditional trade flows as refiners scramble for alternative barrels.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
68.0% of Iran’s merchandise exports were fuels in 2023Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
