Hormuz blockade ends, massive supply of millions of barrels of crude oil begins from Iran’s Kharg Island.

The biggest news of the moment is coming from the global energy market and the Middle East. The blockade has been completely lifted from the world’s most strategically sensitive sea route, the Strait of Hormuz. With the lifting of this ban, the global oil market has heaved a sigh of relief and the supply of stalled oil in the sea has suddenly increased. The biggest change is being seen at Iran’s main oil terminal ‘Kharg Island’, from where huge consignments of crude oil have started leaving for the world markets. Increased movement in the sea, oil loaded in giant tankers According to information received from sources and satellite photos, the movement on Iran’s Kharg Island has increased manifold as soon as the blockade was lifted. Due to international sanctions and tensions, supertankers (VLCCs) which were standing anchored in the sea for days, are now being loaded with crude oil at a rapid pace. It is being told that within the last few hours, millions of barrels of crude oil have been loaded into these ships, which are now ready to move towards the major markets of Asia and Europe. Why is the Strait of Hormuz important for the world? About 20 to 30 percent of the world’s crude oil passes through this Strait of Hormuz. This narrow sea route located between Oman and Iran is considered the lifeline of the global economy. Experts say that lifting the blockade here will curb huge fluctuations in crude oil prices. This news is a relief for major oil importing countries like India, because with the restoration of the supply chain, the hope of stability in the prices of petrol and diesel in the domestic market has increased. Global significance of starting supply from Kharg Island: Iran’s Kharg Island is its largest and important oil export hub. Starting supply from here directly means that the availability of crude oil will increase in the global market. However, OPEC and other western countries are keeping an eye on this sudden rise. Geopolitical strategists believe that this step may change the equations of the Gulf countries in the coming days. At present, this ‘black gold’ tsunami of crude oil has set out to give a new direction to the energy markets around the world.