Since the U.S. renewed its naval blockade in mid-July, no Iranian crude oil shipment has left the Persian Gulf, the Wall Street Journal reports. Iran's floating stockpile outside the Gulf has shrunk from 90 million to 29 million barrels, and could be exhausted by mid-October.
The Wall Street Journal report, published Tuesday morning and cited by The Zioneer, provides the most specific timeline yet for the depletion of Iran's floating oil stockpile. According to the newspaper, no crude oil has left the Persian Gulf since the U.S. reimposed its naval blockade in mid-July. The floating reserve had peaked at 90 million barrels but has since fallen to 29 million barrels, with analysts warning it could be exhausted by mid-October.
Our desk has been tracking this development throughout the day. At 06:40 Jerusalem, The Zioneer first reported the 29-million-barrel figure and the projected October depletion, citing a Hebrew-language report. By 07:35, a follow-up bulletin confirmed the findings were aligning with the WSJ reporting, noting Iran's oil revenues were rapidly declining.
The U.S. naval blockade has been steadily tightening since July. Earlier reports by The Zioneer documented the progressive impact: on July 8, Bloomberg reported 63 million barrels of Iranian oil stranded on tankers after the U.S. canceled a sanctions waiver. On July 14, Iran was reported to have exported over 80 million barrels in a 26-day window before the blockade was reimposed. Radar images from early August showed Kharg Island terminals empty, and by August 8 the Financial Times confirmed no oil exports had left the island since July 31. On September 3, Tanker Trackers data showed Iranian crude exports had effectively ceased.
The WSJ report adds a clear depletion timeline, but the figure remains an analyst projection. It also noted that Chinese buyers are seeking alternative supplies and that payments for delivered cargoes could dry up by December, indicating further financial strain on Tehran. The blockade has all but severed Iran's main revenue stream, a key component of the broader effort to curb its regional aggression.
2 developments
- DevelopingBloomberg: 63 million barrels of Iranian oil stranded on tankers after US cancels waiver
- DevelopingReport: Iran exported over 80 million barrels of oil in 26 days before US reimposed blockade
- StrongTankerTrackers: Iran exported 40 million barrels of crude since June 15, half shipped Friday
- DevelopingTanker Trackers data shows Iran's crude oil exports completely halted since Strait of Hormuz closure
Source and signal
- Open-source intake