The US has revoked Iran's oil sales waivers, leaving around 63 million barrels of Iranian crude oil stranded at sea.
1 hours ago
According to Bloomberg citing Vortexa data, after the U.S. revoked waivers for Iran's oil sales, around 63 million barrels of Iranian crude oil are currently stranded at sea, with most tankers remaining in the Persian Gulf and Asian waters and having yet to find buyers. Previously, the U.S. had allowed Iran to sell crude oil within 60 days without sanctions, but this week revoked the waivers on the grounds of Iran's attacks on oil tankers in the Strait of Hormuz, resulting in a large backlog of loaded crude oil sales. Market analysts noted that driven by factors including sudden U.S. policy shifts, Western sanctions, and insurance restrictions, Iran's crude oil exports are facing renewed pressure. Apart from China, no Asian refineries have publicly purchased Iranian crude oil so far; industry insiders project that Iran may need to further deepen discounts to attract overseas buyers.
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