US Blockade Halts Iranian Oil Exports for Seven Consecutive Weeks

A US naval blockade has severely impacted Iran's oil exports through the Strait of Hormuz, with nearly seven consecutive weeks of halted shipments.

Data from tracking firms Kpler, Vortexa, and TankerTrackers reveals that no new petroleum shipments to China have been made since July 14. This is a significant drop from July's 740,000 barrels per day to between 220,000 and 255,000 in August.

Analysts note that Iranian oil flows have not reached zero for such an extended period, even during the peak of US sanctions in 2019 and 2020. Despite ongoing efforts, available volumes are rapidly shrinking due to declining floating storage reserves across Asia and a complete absence of fresh supplies.

Iran's energy sector faces escalating obstacles as estimates indicate that 29 tankers carrying roughly 36.11 million barrels of crude oil remain stranded inside the Strait of Hormuz. The US blockade is depriving Tehran of vital foreign currency revenues, potentially compelling the government to accelerate currency printing and intensifying inflationary pressures across the domestic economy.