Economics
Europe Chomps Most Iran Oil in Years With Supertankers Due in Days
- Europe to get biggest Iran oil flows in five years this month
- Supertankers Huge and Snow heading toward Rotterdam trade hub
Oil wells on Kharg Island in the Persian Gulf, off the coast of Iran.
Photographer: Kaveh Kazemi/Getty ImagesThis article is for subscribers only.
Europe is poised to receive the most Iranian crude in about five years this month in a sign that the Persian Gulf nation may be regaining its share of a market it had lost to sanctions.
Arrivals on supertankers will reach 622,581 barrels a day in January, the biggest flows for a single month since at least November 2011, according to ship-tracking and European Union data compiled by Bloomberg. Two Iranian supertankers -- Huge and Snow -- are en route, bringing about 4 million barrels between them. Sanctions halted all deliveries back in 2012 and they only restarted early last year as the measures were eased.