**Oil Tankers Flee Iranian Waters Amid Fears of Israeli Retaliation**
Satellite images have revealed a mass exodus of oil tankers from the waters surrounding Iran’s key Kharg Island oil loading terminal, sparking concerns of an imminent Israeli counterattack on Tehran’s energy infrastructure. The National Iranian Tanker Company (NITC) appears to be bracing for impact, vacating the country’s largest oil terminal in anticipation of a potential strike.
Markets are on high alert as tensions escalate between Iran and Israel, following a missile attack launched by Tehran earlier this week. The European Space Agency’s Copernicus Sentinel-1 mission captured images of VLCC supertankers in the waters around Kharg Island on September 25, only to show an empty sea two days later.
According to TankerTrackers.com, the Iranian tankers have relocated to the middle of the Persian Gulf, west of the island. This unusual move has raised eyebrows among energy analysts, who predict that oil prices could surge by as much as 5% in the event of an Israeli attack on the terminal.
Kharg Island, located 15 miles off Iran’s northwestern coast, handles over 90% of the country’s crude exports. With Iran being one of OPEC’s largest crude producers, the potential disruption to global oil supply is significant. Energy experts warn that the sheer size of Iran makes it impossible to secure all of its critical infrastructure, leaving it vulnerable to attack.
As crude futures continue to rise, markets await Israel’s promised “severe response” to the Iranian offensive. The December delivery contract of global benchmark Brent is trading at $78.49 per barrel, up 1.1% from the previous day’s close. The front-month November U.S. West Texas Intermediate futures are trading at $74.49 per barrel, higher by 1% from the previous day’s settlement.
The escalating tensions have sparked concerns about the stability of global oil markets, with some predicting a potential price hike of up to 8% in the short term. As the situation continues to unfold, investors are keeping a close eye on developments in the region.
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