Iran Sneaks 12 Million Barrels Past Renewed U.S. Oil Blockade
Iran is estimated to have sneaked supertankers with a total of 12 million barrels of crude oil in the week between the end of the U.S. waiver on Iranian oil sales on July 7 and July 14, just as the U.S. announced the renewed blockade on Iranian ports and oil cargoes. Last Tuesday, July 7, Iranian
Source: OilPrice.com
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Iran shipped 12 million barrels during a period when the Strait of Hormuz has been closed for 138 days and a ceasefire supposedly extends another 33 days. The U.S. calls it a blockade; Iran calls it Tuesday. Oil jumped 14-16% this week but remains 27-29% below one-year highs — a market that has priced in permanent evasion.