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From March 1 to 23, Iran exported about 1.6 million barrels a day on average, close to prewar levels, according to TankerTrackers.com. Even before the war started on Feb. 28, the country’s shipments were unusually high, with February loadings at the highest level since around July 2018, Kpler data show.

Oil infrastructure at Iran’s main export hub, Kharg Island, has been spared by the US — which only hit military targets there. Satellite photos from the European Union’s Copernicus Browser from between March 2 and March 22 show very large crude carriers moored at the terminal on each occasion.

And the activity appears to be gaining pace — an image from March 2 shows a single supertanker moored at Kharg, while pictures from March 7 and March 17 show two of the vessels taking on cargoes. The most recent picture, from Sunday, shows two VLCCs moored and a third that appears to have recently left the terminal.

Iran has also shipped crude from its Jask terminal which is beyond the Hormuz chokepoint. A satellite image from March 5 shows a supertanker approaching the loading buoy at he terminal. A second image, captured three days later, shows the same ship moored at the buoy.

Crude shipments from Jask are usually infrequent, with only five ships loaded there since the terminal was officially opened in 2021.

Iran is also bringing in extra income by charging transit fees of as much as $2 million on some commercial ships crossing the strait.

In contrast, the oil-export earnings of other Persian Gulf nations have suffered considerably through the war. Costly strikes have hit a range of energy assets from oil and gas fields to refineries and ports. Billions of dollars of damage was inflicted on Qatar’s Ras Laffan facility, the world’s largest liquefied natural gas export hub, curtailing production for years.

Iran’s energy infrastructure has largely escaped attack during the war, with the exception of Israeli airstrikes on the massive South Pars gas field last week. That drew retaliatory attacks by the Islamic Republic on Gulf Arab oil and gas assets.

Over the weekend, President Donald Trump threatened to target Iran’s energy infrastructure if it didn’t reopen the Strait of Hormuz. On Monday he rowed back, citing “very good and productive conversations” with Tehran on an end to the war.

Iranian officials have denied that talks are taking place and rejected a US cease-fire proposal and maintained attacks on Israel and Gulf Arab states, delivering a blow to Washington’s efforts to end a war.