US Blockade Starves China's Refineries of Iranian Oil

The effectiveness of the US blockade on Iranian ports is becoming increasingly evident as it severely restricts the availability of oil to Chinese refiners. According to data from Kpler, approximately 40 million barrels of crude oil are currently held on vessels near Singapore, a popular ship-to-ship transfer location for oil bound for China.

However, only about 10% of this total amount remains unsold, which translates to just two supertanker cargoes. This development indicates the significant impact of the blockade in choking off revenue streams to Tehran.