Satellite imagery has revealed that oil tankers are vacating the waters surrounding Iran’s Kharg Island, a critical oil export terminal, amid rising concerns of an Israeli counterstrike on Tehran’s energy infrastructure.
Kharg Island, located 25 kilometers off Iran’s coast in the Persian Gulf, handles over 90% of the country’s crude oil exports. Satellite images from the European Space Agency’s Copernicus Sentinel-1 mission showed a number of VLCC (very large crude carrier) supertankers stationed near the island on September 25. However, images captured two days after Iran’s missile strikes on Israel show the waters around Kharg Island emptied of vessels. TankerTrackers.com noted that while crude oil loadings continue, the absence of additional shipping capacity from the area is unprecedented since the imposition of U.S. sanctions in 2018.
Here’s what it normally looks like offshore of Kharg Island, and here’s what it looked like earlier today, as seen by Sentinel-1 https://t.co/bY33Aynqm2 pic.twitter.com/538kw1q8kq
— Thomas Bordeaux (@ThomasBordeaux4) October 3, 2024
The shift in maritime activity follows increased speculation that Kharg Island could become a target for Israeli airstrikes, as the two nations exchange military blows. Israeli Prime Minister Benjamin Netanyahu has vowed retaliation for Iran’s missile attack, while U.S. President Joe Biden confirmed that discussions are underway with Israel regarding possible strikes on Iranian oil facilities. Biden, however, urged restraint, advocating for a proportional response and opposing strikes on Iran’s nuclear sites.
The potential threat to Kharg Island—responsible for a significant portion of Iran’s economy—has sent ripples through global oil markets. Short-term crude prices have spiked as energy analysts warn that an attack on the terminal could disrupt around 4% of the global oil supply. Some predict that such an incident could cause oil prices to rise by up to 5%.
Kharg Island has long been a strategic focal point for Iran’s oil exports. The terminal can load up to 7 million barrels per day, although Iran’s current export levels are far lower due to international sanctions. Historically, the island has been considered a potential target for military action, including during the U.S. hostage crisis in 1979, when President Jimmy Carter debated an attack on the facility.
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