Iran Opens Gulf of Oman Oil Terminal to Avoid Hormuz Strait
Iran has opened its first oil terminal in the Gulf of Oman, Iranian President Hassan Rouhani said on Thursday, to allow Tehran to avoid using the Strait of Hormuz shipping route that has been a focus of regional tension for decades."This is a strategic move and an important step for Iran. It will secure the continuation of our oil exports," Rouhani said in a televised speech."Today, the first shipment of 100 tonnes of oil is loaded outside the Strait of Hormuz. This shows the failure of the U.S.
As Iran Eyes Return to Oil Trading, Storage at Sea Rises
Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear program and has been moving oil into place to prepare for an eventual restart, four traders and industrial sources said.The U.S. and Iran began in mid-June their sixth round of indirect talks on reviving a 2015 nuclear deal that former U.S. President Donald Trump pulled out of in 2018. Trump reimposed sanctions on Iran’s energy sector, leading…
