Bloomberg shipping data show that of 109 large tankers (>=700,000 barrels) trapped in the Persian Gulf after the Feb. 28 outbreak and the effective closure of the Strait of Hormuz, 29 — roughly one quarter — have since made slow, covert departures and transited the strait. Those cargoes account for only a small portion of oil and refined products still held in the Gulf, but were rapidly bought up as global inventory buffers are shrinking at a record pace. Many vessels have been operating with AI

Bloomberg shipping data show that of 109 large tankers (>=700,000 barrels) trapped in the Persian Gulf after the Feb. 28 outbreak and the effective closure of the Strait of Hormuz, 29 — roughly one quarter — have since made slow, covert departures and transited the strait. Those cargoes account for only a small portion of oil and refined products still held in the Gulf, but were rapidly bought up as global inventory buffers are shrinking at a record pace. Many vessels have been operating with AIS transponders off, so the true number of successful evacuations is likely higher.