Iran has continued exporting crude oil through the Strait of Hormuz despite rising tensions in the region and a noticeable drop in overall maritime traffic, according to a CNN report.

The report also said that earlier assumptions by the United States, that Iran would avoid disrupting the strategic shipping lane because it depends on it for its own exports—have proven incorrect.

The report suggested that the United States may have assumed Iran would avoid interfering with the Strait of Hormuz because Iran itself relies on it for exporting oil, but that assumption turned out to be wrong.

“If the United States assumed, before attacking Iran, that the major oil producer would be reluctant to close the Strait of Hormuz for fear of blocking its own oil exports, it miscalculated,” it said.

Traffic through the strategic waterway, which handles about 20 per cent of global oil supplies, has fallen sharply since the escalation of conflict in the Middle East.

“Traffic through the strait, through which a fifth of the world’s oil output normally flows, has been severely curtailed since the start of the latest Middle East conflict,” the report stated.

The situation has been further complicated by attacks on vessels operating in the region.

At least 16 vessels have reportedly been struck by drones or other projectiles, with Iran claiming responsibility for some of the incidents.

Despite widespread disruption in the region, Iran has largely sustained oil export flows at close to normal levels, preserving its revenue base even amid ongoing hostilities

It also noted that Iran had built up significant volumes of floating oil storage ahead of the conflict.

“In addition, there were already millions of barrels of Iranian crude oil at sea looking for buyers before the conflict began,” the report noted.

Data from tanker-tracking firms and satellite imagery suggest that Iranian crude is still flowing through the Strait of Hormuz, even as exports from neighbouring countries have been disrupted.

“Tanker tracking data and satellite images show that Iranian crude has flowed through the strait even as the conflict has crippled exports of crude and natural gas from nearby Persian Gulf countries,” the report stated.