According to informed sources, Vitol Group is offering Iraqi Basra crude to clients, indicating that some shipments may have already successfully exited the Persian Gulf.

The sources stated that over recent days, Vitol has marketed multiple cargoes to refiners, including Basra Medium and Basra Heavy crude, which can be delivered via ship-to-ship transfer offshore the United Arab Emirates, including near the port of Fujairah. The individuals requested anonymity as the discussions are private.

A Vitol spokesperson declined to comment.

If successful, this would mark a rare appearance of Iraqi crude in the spot market, sold by a trader, since the onset of conflict and the blockade of the Strait of Hormuz. For months, the majority of crude production from the Persian Gulf has been trapped, unable to be shipped out. Abu Dhabi National Oil Company (ADNOC) was among the first to transport oil through the strait.