US Naval Blockade Halts Iranian Crude Exports

The US naval blockade has had a significant impact on Iran's access to international energy markets. According to preliminary tanker-tracking data, no crude oil was loaded onto tankers in September, marking the first month since the war began in February that no crude was recorded as leaving the country by sea.

The sharp decline highlights the disruption caused by the blockade, which had averaged around 250,000 barrels per day in August. Data from tanker-tracking firms Kpler and Vortexa also showed no crude loadings from Iranian ports during the month.

Despite the halt in fresh loadings, some Iranian crude continues to reach Chinese buyers from floating storage near Singapore. However, this temporary source of supply could gradually decline if new Iranian cargoes are unable to leave the country's ports.