Commodities
US Blockade Drives Up Iranian Oil Prices
Iran's crude oil prices have risen as fewer cargoes reach Chinese buyers under a tightening US blockade.
According to Reuters, Iranian oil deliveries for September and October have fallen below volumes in July and August, leaving sellers with limited supplies.
This shift follows a decline in Iranian exports since mid-July, when the United States intensified its blockade on the country's oil shipments. The pressure on buyers could increase after US President Donald Trump threatened secondary sanctions against countries that continue trading with Iran.