Iran Maintains Oil Exports, Hormuz Strait Partially Open

This activity occurs as most shipping traffic through the Strait, which supplies one-fifth of the world's crude oil, has been halted since early March, causing crude prices to spike over $100 a barrel, a 40% jump since the war began. Many vessels were "dark" transits evading Western sanctions, with China identified by Kpler as the biggest buyer of Iranian oil.

Iran has managed to profit from these sales and preserve its export artery by leveraging control over the chokepoint, as noted by Kun Cao of Reddal. India-flagged LPG carriers and a Pakistan-flagged crude oil tanker successfully transited after diplomatic talks with Iran, with Iraq also in negotiations.

U.S. Treasury Secretary Scott Bessent confirmed the U.S. allows Iranian oil tankers to cross to supply the world. The Strait is not simply closed but functions selectively for Iranian exports and a narrow set of tolerated non-Iranian movements, according to Cao.