Iran’s Oil Exports Surge 44% following Israeli Attack

Iran’s oil exports have surged by 44%, averaging 2.3 million barrels per day compared to prior levels since the Israeli airstrike on June 13, according to data from shipping tracker Tanker Trackers. 

Investor anxiety over potential disruptions to Iran’s oil infrastructure has triggered a sharp rise in oil price volatility. The premium on Brent crude call options versus put options has widened to its highest point in over a decade—exceeding even the spikes seen after Russia’s 2022 invasion of Ukraine. This reflects heightened fears of further targeting of oil exports and the risk of U.S. military involvement in the escalating Israeli-Iranian tensions.

Iran, OPEC’s third-largest oil producer, typically pumps about 3.3 million barrels daily. Despite recent price jumps of over 4% in the previous session, oil prices stabilized Wednesday with Brent crude futures edging up 0.2% to $76.61 a barrel and WTI crude futures rising similarly to $75.01.

Markets remain cautious as geopolitical risks continue to cloud the outlook for global oil supply.