Maritime Deadlock Breaks as 6 Million Barrels of Iraqi and Saudi Crude Transit Strait of Hormuz During Ceasefire

Iraq and Saudi Arabia resume major oil exports through the Strait of Hormuz as the ceasefire holds. Read about the impact on Basra crude and global energy prices.

By: AXL Media

Published: Apr 13, 2026, 6:13 AM EDT

Source: Information for this report was sourced from Iraqi News

Strait of Hormuz Sees Surge in Tanker Traffic

For the first time since the start of the US-Iran conflict 40 days ago, the maritime blockade of the Strait of Hormuz appears to be easing. Reports from TankerTrackers.com and Bloomberg indicate that a combined 6 million barrels of crude oil transited the strategic waterway over the weekend. This surge follows the implementation of a two-week ceasefire between Washington and Tehran, allowing massive shipments to reach global markets and providing the first major sign of relief from the global energy supply shock.

Iraq and Saudi Arabia Lead the Recovery

The weekend's activity was dominated by the departure of three Very Large Crude Carriers (VLCCs) from the Gulf. Iraq contributed 2 million barrels of Basra crude to the flow, while Saudi Arabia successfully exported 4 million barrels of Saudi Aramco crude. This "significant" spike in activity stands in stark contrast to the first 48 hours of the truce, which saw only 12 vessels attempt the crossing as crews and insurance firms remained wary of the security situation.

Economic Lifeline for the Iraqi Treasury

The reopening of the Strait comes at a critical time for Baghdad. With Basra Crude currently trading at record highs of $125 per barrel, the successful delivery of this 2 million-barrel shipment represents an immediate and massive cash injection for the national treasury. Iraqi officials are hopeful that this successful transit will demonstrate the viability of the "Hormuz Exception" and encourage international maritime insurance firms to continue lowering the high-risk premiums that have crippled regional exports.