Iranian oil exports affected by US blockade
Iranian oil shipments to Asia have dropped significantly, leading to a rise in Iranian crude prices to their highest levels in years. This is due to the success of American sanctions, which resulted in the seizure of Iranian ships stranded in the Gulf and greatly reduced the supplies available to Asian buyers, especially in China. Additionally, oil inventories in waters east of the Malaysian Peninsula have decreased to around 40 million barrels, with only about 4 million barrels available for sale, further increasing pressure on the Iranian oil market ahead of an American plan to systematically isolate the Iranian economy, including targeting refining companies and banks.
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