Published • loading... • Updated
Iran’s Floating Oil Stocks Run Dry
Sanctions and a 10-week blockade have cut off tanker loading, leaving Iran’s floating crude reserves nearly exhausted, according to Kpler data.
- On Monday, Treasury Secretary Scott Bessent announced the Trump administration's sanctions campaign halted all crude oil tanker loadings, with a 100 percent effective naval blockade preventing tankers from leaving the Gulf for 10 weeks.
- Iran previously relied on China for 90% of its oil exports, but stocks held afloat are nearly exhausted, threatening to eliminate about 40 percent of government finance by the end of December.
- Kpler analyst Homayoun Falakshahi advised treating "productive talks" headlines as "tradeable fades" rather than signs of de-escalation, as estimates suggest remaining 15 million barrels held afloat will likely clear by mid-October.
- The United States and nine other Western Hemisphere nations condemned Iran on Monday for plotting attacks and "other malign influence operations," with the ten countries pledging closer cooperation to address the regional security threat.
- Tehran is reviewing the U.S. response to its proposal for reopening the Strait of Hormuz within seven days, while Energy Secretary Chris Wright noted on Sunday that energy supplies moving through the Strait have continued increasing.
Insights by Ground AI
20 Articles
20 Articles
Iran threatens to break away the most important source of foreign exchange. According to preliminary tanker data, no Iranian crude oil was loaded onto tankers in September, while the rial falls from a record low to the next. US finance minister Scott Bessent now claims that Tehran will for the first time have "no oil on the water" this week and thus no new oil revenues. Donald Trump increases the pressure on the Iranian leadership exactly where …
‘First Time in History’: Bessent Says Iran Faces Zero Oil Revenue This Week — Tehran Warns of Economic Crisis
Iran is set to have no oil at sea and no oil revenue this week for the “first time in history,” Treasury Secretary Scott Bessent said as Tehran’s top security official issued a rare warning over the country’s deepening economic crisis.
·Los Angeles, United States
Read Full ArticleCoverage Details
Total News Sources20
Leaning Left0Leaning Right7Center2Last UpdatedBias Distribution78% Right
Bias Distribution
- 78% of the sources lean Right
78% Right
C 22%
R 78%
Factuality
To view factuality data please Upgrade to Premium
