Iran resumes crude oil loading from Kharg Island after US blockade lift

Iran’s Kharg Island terminal is back in business. After six weeks of sitting idle under a US naval blockade, the facility that handles roughly 90% of Iran’s crude exports resumed loading operations on June 20, with three very large crude carriers docking at the terminal.

The reopening follows an interim agreement between Washington and Tehran, one that includes provisions for Strait of Hormuz transit and export waivers.

What the blockade actually did

The terminal has a loading capacity of roughly 7 million barrels per day, making it one of the most strategically important oil infrastructure sites on the planet.

Before the US Navy blockade began, Iranian crude loadings averaged about 2.1 million barrels per day. That number collapsed to approximately 567,000 barrels per day by mid-April 2026. The six-week disruption sent prices spiking toward $100 per barrel during March 2026, squeezing refiners and consumers across Asia, where the bulk of Iranian crude finds its buyers. China, the largest consumer of Iranian oil, felt the pinch most directly.

Now that three VLCCs, vessels capable of carrying around 2 million barrels each, have docked at Kharg, the market is recalibrating.

The interim deal and its moving parts

The US-Iran agreement includes structured provisions for Strait of Hormuz transit, a chokepoint through which roughly 20% of the world’s oil passes daily, and specific export waivers that give Iranian crude a legal pathway back to international markets.

What this means for investors

During the blockade period, Bitcoin traded in a range of roughly $71,000 to $74,000. Oil prices spiking toward $100 per barrel would normally correlate with broader risk-off sentiment, yet Bitcoin showed relative stability during a period when traditional energy markets were swinging wildly.

The smart money will be watching the pace at which Iranian loading volumes recover toward their pre-blockade 2.1 million barrel per day average, and whether the interim agreement evolves into something more durable.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.