80 Million Barrels of Crude Are Lined Up to Exit the Strait of Hormuz

Tankers carrying a total of 80 million barrels of crude are preparing to move through the Strait of Hormuz after the signing of the preliminary deal between the United States and Iran, Bloomberg reported today, citing data from Vortexa. The crude is on 40 tankers, of which 21 will be heading for Asia, with five going to China as their final destination and five others bound for Malaysia and Singapore, key regional transshipment hubs. None of the tankers is carrying Iranian crude, Bloomberg also noted. On Thursday, Bloomberg estimated the amount…