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Iran's crude oil exports hit zero due to US blockade

Investing.com ·

  1. 1Iran's seaborne crude oil exports recorded zero from the second week of September to October 5 due to a US blockade.
  2. 2Of the 83 million barrels of Iranian crude oil stored on seaborne tankers, 43 million barrels are trapped west of the Strait of Hormuz.
  3. 3Claire Jungman, Director of Maritime Risk and Intelligence at Vortexa, said the blockade physically prevented Iranian crude oil from leaving the Persian Gulf.

So what's the key point?

Iran's oil exports have stopped because the US blocked the routes. A total of 83 million barrels of oil loaded on ships are currently stuck and unable to move out.

Source Investing.com · View original ↗

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