Iran’s oil exports stall and Kharg Island idles under US blockade
Naval interdiction appears to be halting tankers from carrying Tehran’s crude
Source: Financial Times
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DW NOTE
The Strait of Hormuz has been closed to commercial shipping for four months. Brent is at $82, down 30% from its one-year high. Either the market believes Iranian crude was never meaningfully restricted, or it has priced in a reopening that hasn't happened yet. A naval blockade of Kharg Island that actually worked would not produce $82 oil in a world still short Russian and Libyan barrels.