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The United States is set to receive and refill more than 100 oil tankers as the war with Iran has disrupted global energy flow.
Marine traffic data and reporting across the globe have highlighted a surge in vessels headed toward the United States to fill up. According to Fox News, 121 empty oil tankers are en route to the U.S. Gulf, 68 of which are “Very Large Crude Carriers,” or VLCCs.
The tankers are likely largely headed to Texas, where most terminals and ports for crude export are located. According to Energy News Beat, the U.S. Gulf Coast churns out around 7 million barrels of oil daily, with room to increase as demand soars.
The increased marine traffic – and oil business – in the United States’ direction is a significant geopolitical shift. With the Strait of Hormuz no longer open for business, customers looking to refill their oil tankers have been forced to steam West.
“With capacity headroom and record bookings already in place, U.S. Gulf Coast exports are poised to set new highs in the coming months — cementing America’s role as the world’s swing supplier and ‘gas station,’” writes ENB’s Clark Savage.
Operation Epic Fury was launched by the United States against Iran on February 28, and the conflict is currently in the middle of a temporary ceasefire. Over the weekend, peace talks in Islamabad, Pakistan, failed to produce a final agreement, and so the situation remains tenuous.
As the oil demand has skyrocketed, so, too, have oil prices, with barrels soaring past $100 Monday morning after the president announced a full U.S. naval blockade on the Strait of Hormuz.
The blockade, according to the U.S. Central Command, will be implemented on all maritime traffic entering and exiting Iranian ports. All other vessels will be allowed to traverse the Strait without interdiction.
To this point, since the beginning of the conflict, traffic in the Strait has ground to a near-halt, even after last week’s ceasefire was announced. However, President Trump said on Truth Social Monday that 34 ships had passed through the corridor on Sunday, “which is by far the highest number since this foolish closure began,” he wrote.