Iranian crude shipments to Syria halt after Assad's fall, tanker Lotus turns back

Iran's crude exports to Syria have stopped after rebels took power in Damascus, S&P Global Commodity Insights reports. The laden tanker Lotus turned back in the Gulf of Suez on 7 December as rebel forces entered the capital, according to S&P Global's Commodities at Sea data. The Ramona I, which loaded about 1 million barrels on 2 November and returned empty on 2 December, may have made the last delivery before the government collapsed. Iran had been shipping about 50,000 barrels per day to Syria in 2024, down from roughly 80,000 b/d in 2023, usually sending one or two Suezmax tankers a month to the Banias refinery.

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