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Iran Oil Exports Slide in Early Ship Data After Trump Sanctions

  • Shipments heading to European Union countries drop by a third
  • No crude loaded for delivery to South Korea or Turkey
A crude oil tanker sails through the Persian Gulf towards Kharq Island to transport crude oil to export markets in the Persian Gulf, Iran.

A crude oil tanker sails through the Persian Gulf towards Kharq Island to transport crude oil to export markets in the Persian Gulf, Iran.

Photographer: Ali Mohammadi/Bloomberg

Iran’s oil exports fell sharply in the first two weeks of June, offering an early signal that U.S. President Donald Trump’s re-imposition of sanctions may be discouraging some buyers.

Outflows of crude oil and condensate, a light form of oil extracted from gas fields, plunged by 16 percent to 2.114 million barrels a day during the first two weeks of June, compared with the same period in May. It’s the biggest like-for-like drop since December 2016, according to ship-tracking data compiled by Bloomberg.