Even as escalating military tensions threaten one of the world’s most critical energy chokepoints, Iran has continued exporting crude oil to China through the Strait of Hormuz, underscoring the resilience of global oil trade during periods of geopolitical crisis. Satellite tracking data indicates that at least 11.7 million barrels of Iranian crude have moved through the waterway since hostilities began on February 28. The shipments highlight how strategic energy flows often persist even during severe regional conflicts, particularly when major importers such as China continue to rely on discounted crude supplies from sanctioned producers.

Strategic Oil Shipments Continue Despite Rising Security Risks

Shipping activity in the Strait of Hormuz has slowed significantly since the outbreak of the conflict between Iran and U.S.-Israeli forces, yet Iranian crude exports have not completely halted. Data from shipping analytics firm TankerTrackers suggests that multiple tankers have continued moving Iranian oil through the strait, often using tactics designed to evade detection. Some vessels have reportedly switched off their tracking transponders—commonly referred to as “going dark”—after Tehran warned that ships attempting to navigate the waterway could face military threats.

Despite the heightened security environment, analysts estimate that roughly 12 million barrels of crude oil have passed through the strait since the conflict began. While confirming final destinations has become increasingly difficult due to limited vessel tracking data, analysts believe the majority of these shipments ultimately reach Chinese buyers. Beijing has remained the primary consumer of Iranian crude in recent years, often purchasing the oil at discounted prices amid Western sanctions.

China’s Energy Strategy Drives Continued Demand

China’s sustained demand for Iranian oil reflects a broader strategy aimed at strengthening national energy security. Over the past several years, Beijing has accumulated large strategic crude inventories, building reserves estimated at roughly 1.2 billion barrels as of early 2026. These stockpiles provide China with several months of energy supply, allowing the country to cushion potential disruptions in global oil markets.

Recent trade data shows China accelerated crude imports earlier this year, with shipments rising nearly 16% compared with the same period last year. Iranian crude has played a key role in that surge. Before the conflict erupted, Iran exported approximately 2.16 million barrels per day in February—its highest level since 2018—with nearly all shipments destined for Chinese refiners.

Although exports have since fallen to roughly 1.22 million barrels per day during the conflict, the continued flow of oil highlights the strategic relationship between Tehran and Beijing. For China, maintaining access to discounted crude supplies offers both economic advantages and supply diversification amid a volatile global energy environment.

Iran Explores Alternative Export Routes

As risks surrounding the Strait of Hormuz intensify, Iran has begun exploring additional export routes to maintain its oil shipments. The country recently resumed tanker loading operations at the Jask oil and gas terminal located along the Gulf of Oman, south of the Strait of Hormuz. Unlike Iran’s primary export hub at Kharg Island—which relies on passage through the strait—the Jask facility provides a direct outlet to the open ocean.

However, analysts caution that Jask currently offers limited logistical advantages. Loading a single Very Large Crude Carrier at the terminal can take up to ten days, compared with one or two days at Kharg Island. While the facility provides an alternative pathway for exports, its slower loading process may limit its effectiveness as a large-scale replacement for the traditional shipping route.

Looking ahead, global energy markets remain highly sensitive to developments around the Strait of Hormuz, which typically handles roughly one-fifth of the world’s oil and gas trade. Although oil prices briefly surged toward $120 per barrel amid fears of supply disruptions, they have since retreated as markets assess the likelihood of sustained shipping blockages. Investors and policymakers will continue to monitor shipping activity, geopolitical developments, and strategic oil reserve policies as they evaluate whether the current conflict could trigger broader instability in global energy supply chains.