Iran 'Strangled' by Blockade as Persian Gulf Oil Exports Rebound

Petroleum exports from the Persian Gulf have rebounded to about 72% of pre-war levels, despite ongoing tensions in the region. According to analysts, oil flow through the Strait of Hormuz has reached around half its former rate.

US officials claim Iran is 'exhausted' by a US Navy blockade that has severely curtailed the country's trade and access to resources.

'They're running out of supplies. They're running out of water. They're running out of feedstock. They're running out of food,' said a US official, who added that the blockade is 'strangling' Iran like an anaconda.

Iran's rial has also plummeted to record lows, with $1 now equivalent to 2.45 million rials, down from 42,000 rials at this time last year.