Commodities
Chinese Tanker Set to Test US Hormuz Naval Blockade
USS Rafael Peralta implements a maritime blockade against a tanker attempting to pass through the straight of Hormuz.
Source: US NavyA Chinese-owned supertanker hauling Iraqi crude through the Persian Gulf is set to test the US blockade over the next 24 hours as it attempts to exit the largely shuttered Strait of Hormuz. The transit would coincide with President Donald Trump’s visit to Beijing.
The Yuan Hua Hu passed Iran’s Larak Island in the early hours of Wednesday morning and is now crossing the Gulf of Oman. It loaded about 2 million barrels of crude at Iraq’s Basra Oil Terminal in early March, tanker-tracking data compiled by Bloomberg show.