Shipping data and analysts show Iran's crude and condensate exports in May fell
to their lowest level in at least six years amid a US Navy blockade. Vortexa put
May flows at about 209,000 b/d, down from 1.34m b/d in April and nearly 1.9m b/d
in March, the weakest since late 2019–early 2020. Vortexa analyst Claire Jungman
said the main drivers appear to include unrest around the Strait of Hormuz, US
Navy restrictions on vessels entering and leaving Iranian ports, and broad
reluctance by owners, operators, insurers and trading counterparts to expose
ships and crews to the current security environment. Kpler showed a similar
drop, estimating May exports at roughly 260,000 b/d, still a six-year low.
