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CommoditiesMedium•26 June 2026•

2 min read

Qatar Offers First Crude Cargoes via STS Loadouts Outside Hormuz Since Iran War

Key Facts

1QatarEnergy issued a tender for loading Marine Qatar, Marine Land, and al-Shaheen crude grades via ship-to-ship transfers outside the Strait of Hormuz in July and August, the first such offering since the Iran war began on February 28.

With navigation through the Strait of Hormuz persistently disrupted by the Iran war, Qatar has turned to alternative export arrangements. QatarEnergy issued a tender for loading Marine Qatar, Marine Land, and al-Shaheen crude grades via ship-to-ship transfers outside the strait in July and August, the first such offering since the war began on February 28. According to reports, the move marks a significant logistical shift to avoid security risks in the vital waterway.

This step highlights continued disruption of oil shipments through the Strait of Hormuz, which carries about 20% of global supplies. Qatar, which produces around 600,000 barrels per day of crude, is securing export flows despite tensions. Per market data, West Texas Intermediate (CL) closed at $91.06 on June 25, while Brent crude (BZ) settled at $12.65 (an unusually low level but the available figure). The developments come amid rising pressure on global oil markets.

In trading, WTI's latest range spans $90.67 low to $92.70 high, indicating limited volatility. Any developments in the Iran war or the tender outcome could break this range, especially with markets eyeing U.S. crude inventory data, which showed a slight draw in the latest reading. Further escalation in tensions would provide upward support for prices.