Trending Now - Iran Maintains Oil Exports Amid Strait of Hormuz Tensions

WHO:

President Donald Trump, Iranian Foreign Minister Abbas Araghchi, Penny Chen (senior director with Fitch Ratings), Farzin Nadimi (senior fellow at the Washington Institute for Near East Policy), Ana Subasic (Kpler trade risk analyst), Kun Cao (client director at consulting firm Reddal), Mehran Kamrava (professor of government at Georgetown University), Richard Meade (editor-in-chief of Lloyd's List), Subrahmanyam Jaishankar (India's foreign minister), Ali Larijani (Iran’s top powerbroker), Rear Admiral Alireza Tangsiri (commander of the IRGC Navy).

WHAT:

Iran has exported at least 16 million barrels of oil since the beginning of March 2026.

Approximately 90 ships, including oil tankers, have crossed the Strait of Hormuz since the war began.

Iran has attacked at least 17 ships in the Strait of Hormuz since the outbreak of the war on February 28, 2026.

Only 89 ships crossed the Strait of Hormuz between March 1 and March 15, 2026, including 16 oil tankers.

Oil prices have risen above $100 per barrel, increasing by more than 40% since the war began.

The U.S. bombed military sites on Kharg Island, which is key for Iran's oil network and exports.

WHERE:

Strait of Hormuz, Persian Gulf, Arabian Sea, Iran, Abu Dhabi, Dubai, Manama, Kharg Island.

WHEN:

The war with Iran began on February 28, 2026.

The bombing of military sites on Kharg Island occurred in March 2026.

Ships passed through the Strait of Hormuz around March 13 and March 14, 2026.

WHY:

Iran aims to maintain its oil exports despite the war and has threatened to prevent oil from reaching the U.S. and its allies.

The U.S. and Israel are conducting military operations against Iran, seeking a quick and decisive victory.

HOW:

Iran has redirected cargo ships into its territorial waters and allowed some vessels to pass, including those flagged by China, Turkey, India, and Pakistan.

Some vessels are navigating with their tracking transponders switched off to evade detection.

Iran has created a "safe corridor" for certain ships to pass close to its coast.

(UPDATED March 19, 2026 01:25 UTC)

In a significant development, President Trump and Iranian Foreign Minister Abbas Araghchi, along with various experts and officials, are addressing the ongoing conflict that has seen Iran export at least 16 million barrels of oil since the beginning of March. The situation escalated after the U.S. bombed military sites on Kharg Island, crucial for Iran's oil network, while oil prices have surged above $100 per barrel, marking a 40% increase since the war began on February 28. Meanwhile, approximately 90 ships, including oil tankers, have crossed the Strait of Hormuz, with Iran reportedly attacking at least 17 vessels in the area as it seeks to maintain its oil exports despite the ongoing military operations against it.