Russian-Flagged Tanker Transits Hormuz Into Gulf in Rare Passage

The tanker is carrying Russian oil to Iran’s Kharg island. The capacity of this Very Large Crude Carrier (VLCC) is about 2 million barrels. Spot world prices for “Ural Oil” is about $122/bbl, but contract prices are likely lower. At $100/bbl, the cargo would go for 200 million dollars.

But why would Iran be exporting and importing oil at the same time? This is common due to the requirements of the refineries, which are producing a variety of hydrocarbon fuels.

Russia has been supporting Iran throughout the war, although Trump doesn’t say a word about it. Trump mostly has been verbally attacking our European allies.

Push Iran, and you don’t get compliance. You get push back.

Stay tuned,

Dave