Global oil prices extended their rally on Tuesday as a growing cluster of Iranian tankers stranded near the Strait of Hormuz heightened concerns over supply disruptions. The buildup of vessels off Iran’s southeastern coast has become the clearest sign yet of the mounting strain on Tehran’s crude export operations under an intensified US naval blockade.
As of the time of writing 05:38 pm (WAT), Brent crude was trading at $110.60 per barrel, up 2.19 per cent, while US West Texas Intermediate gained 3.28 per cent to $99.53 per barrel. Murban crude also climbed 2.91 per cent to $107.20, reflecting the market’s increasing focus on geopolitical supply risks.
At least six Iranian tankers loaded with crude are currently loitering near the port of Chabahar, just outside the Strait of Hormuz but within the enforcement perimeter of the US blockade. Their presence underscores the growing difficulty Iran faces in moving oil cargoes out of the Gulf.
According to Oilprice.com, satellite imagery and maritime intelligence show that the vessels are effectively in a holding pattern, waiting for an opportunity to proceed. “The cluster of about half a dozen Iranian vessels signals that Iran continues to load oil on Iranian tankers,” the publication reported, even as export routes remain under pressure.
Maritime intelligence firm Windward said the grouping consists of six very large crude carriers and one Suezmax tanker, all operating with their Automatic Identification Systems switched off. The firm noted that the vessels remain in fixed positions, suggesting “sustained loitering rather than active operations.”
“The dark mode of tanker positioning and a tanker likely acting as a bunkering unit suggest deliberate staging behaviour, rather than incidental congestion or short-term delay,” Windward said. This indicates that Iran is adapting its export logistics while waiting for a possible easing of enforcement measures.
The US Central Command said the blockade remains firmly in place, adding that 34 vessels linked to Iranian trade have already been redirected. While the action is slowing crude exports, analysts say Iran still has substantial volumes available on water to cushion the immediate impact.
With tankers piling up outside Hormuz and diplomatic tensions still unresolved, the global oil market remains on edge. For traders, the message is straightforward: as long as Iranian cargoes remain trapped and the Strait stays constrained, crude prices are likely to remain elevated.