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Israel-Iran War: Tehran Empties Its Largest Oil Terminal; Biden ‘Assured’ Nuclear, Oil Facilities Will Not Be Hit

Israel-Iran War:

As per sources referenced by the Washington Post, Netanyahu informed Biden during a phone conversation on October 9 that Israel intended to solely focus on hitting military facilities in Iran. This indicates that Tel Aviv might opt for a smaller counterattack to avoid a large-scale conflict.

The report states that Netanyahu’s alleged proposal was received positively in the White House. The report also highlights that a potential Israeli strike on Iranian oil facilities may lead to a significant increase in energy prices.

Striking Iranian nuclear sites may lead to additional escalation and heighten the potential for the US to become involved in a broader conflict.

Beforehand, Biden expressed his belief that it was not suitable for Israel to attack nuclear facilities in Iran. Sources claim that the newspaper reported Netanyahu had a more moderate stance in that conversation compared to before.

As reported by the publication, a military action by Israel against targets in Iran is anticipated to occur prior to the upcoming US presidential election scheduled for November 5.

According to previous reports from EurAsian Times, Iranian super tankers have departed Kharg Island, the largest oil terminal in the country, resulting in the anchorage being empty for the first time in recent memory.

TankerTrackers, a global tanker tracking company, reports that the National Iranian Tanker Company (NITC) seems to be concerned about a potential attack from Israel. Their vacant VLCC super-tankers left Kharg Island, Iran’s main oil terminal on Wednesday. As crude oil loadings are ongoing, all remaining empty shipping space at the anchorage in Kharg Island has been filled.

TankerTrackers pointed out that this is the initial occurrence of such behavior since the implementation of the 2018 sanctions.

Backed by Hunterbrook, an investigative agency that operates as open-source, data from 105 satellite passes since last November verifies that the anchorage is empty for the first time, contrasting with previous images that depicted tankers.

This also indicates that Iran is treating the possibility of attacks seriously.

Iranian tankers are recognized for their deceptive strategies, frequently disabling their transponders and altering their Automatic Identification System (AIS) to conceal their actions and bypass US sanctions. Nevertheless, the present circumstances exceed these typical actions, suggesting an elevated level of perceived danger.

Importance of Kharg Island

As per industry data aggregator and research firm Kpler, Iran’s export of crude oil and gas condensate reached a peak of 1.65 million barrels per day in the first five months of 2024, marking a significant increase from the 1.194 million barrels per day exported in spring 2023.

Kharg Terminal, situated on Kharg Island only 15 miles from Iran’s northwest shore, manages 90% of Iran’s oil exports. Oil is transferred to the island through a pipeline.

In the past, Kharg Island was the biggest offshore crude oil terminal globally, and any assault there could result in severe outcomes.

Considering its strategic significance, Kharg Island is often seen as a possible site for Israel to target in the event of strikes against Iran. Aiming to disable Iran’s oil revenue, this terminal in the Persian Gulf is being targeted.

A short-term surge in crude prices of about 5% could be caused by an attack, due to the potential for widespread international disruption, especially impacting Iran’s oil exports to China, the top oil importer globally.

Iran, the third biggest oil producer in OPEC, heavily depends on oil and gas exports to sustain its struggling economy, which is already under pressure from current sanctions.

In retaliation, Tehran has announced that if Israel and the US respond to the attack on the Kharg Island oil export terminal, they will attack Saudi Arabia’s Ras Tanura oil export terminal. This increase could potentially involve more nations in the war and worsen the region’s instability.

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