At the Saudi port of Ras Tanura, a fourth supertanker commenced crude loading on Monday, according to LSEG data. This operation proceeded despite a fatal helicopter crash nearby that claimed 14 lives on Sunday. One of the four very large crude carriers (VLCCs) active at the terminal has already exited the Strait, currently en route to Japan. Meanwhile, the UAE and Qatar continue to dispatch LNG carriers, with some vessels opting for dark-mode transit to clear the waterway.

Iran is simultaneously ramping up exports from its primary terminal at Kharg Island. This surge follows a U.S. decision to waive sanctions on Iranian oil sales through August 21, creating a narrow window for the nation to capitalize on global markets. These developments unfold against a backdrop of diplomatic fragility; the U.S. recently conducted retaliatory strikes against Iranian targets following attacks on a container vessel and a crude tanker. Despite this escalation, a U.S. official reported late Sunday that both parties have agreed to a temporary cessation of hostilities, with further negotiations tentatively scheduled for later this week.