Qatar Offers First Crude Loadings Outside Strait of Hormuz Since War
QatarEnergy tenders crude for loading outside the Strait of Hormuz via ship-to-ship transfers, marking the first such offering since the Iran war began in February.
Qatar has issued its first crude tender for loading outside the Strait of Hormuz since the Iran war began on February 28, trade sources told Reuters on Friday. State-owned QatarEnergy is offering Marine Qatar, Marine Land, and al-Shaheen crude grades via ship-to-ship (STS) transfers between offshore waters of Fujairah in the UAE and Sohar in Oman. The tender closes on June 29, with loading scheduled for July and August.
This move is significant for global oil markets as it bypasses the Strait of Hormuz, a critical chokepoint through which about 20% of the world's oil passes. Since the Iran war disrupted shipping routes, traders have been concerned about supply security. By offering crude via STS transfers outside the strait, Qatar ensures delivery to buyers without transiting the conflict zone. This could help ease supply fears and potentially narrow the Brent-Dubai spread, as alternative loading points reduce risk premiums. Traders can monitor real-time price moves on NowPrice's live fuel dashboard to track market reactions.
Looking ahead, market participants will watch the tender results closely. If Qatar successfully loads crude via this route, other Gulf producers may follow suit, reshaping regional crude logistics. The outcome will also test buyer appetite for alternative loading arrangements amid ongoing geopolitical tensions. Key data to watch include weekly US crude inventories and OPEC+ production figures for July.