By Anthony DiPaola, Julian Lee and Alex Longley (Bloomberg) -- Iran is starting to store oil on its fleet of supertankers again as impending U.S. sanctions force the Persian Gulf country to revive a strategy it deployed under previous curbs. The build-up of crude in floating storage offshore Iran signals the effectiveness of the new sanctions imposed by U.S. President Donald … [Read more...]
U.S. Navy Conducts Military Exercises in Gulf Amid Iran Tension
By Zainab Fattah (Bloomberg) -- The U.S. Navy is conducting exercises this month to ensure its readiness to guarantee freedom of movement through Persian Gulf and Red Sea waterways amid escalating threats from Iran to disrupt shipping across important choke points. The exercises, with regional and global allies, are part of the U.S. 5th Fleet Theater Counter Mine and … [Read more...]
Iran Says It Has Full Control Of Gulf, U.S. Navy Does Not Belong There
by Babak Dehghanpisheh (Reuters) Tehran has suggested it could take military action in the Gulf to block other countries’ oil exports in retaliation for U.S. sanctions intended to halt its sales of crude. Washington maintains a fleet in the Gulf that protects oil shipping routes. Tangsiri said Iran had full control of the Gulf and the Strait of Hormuz that leads into … [Read more...]
Iran’s Tanker Fleet Gives it Oil-Export Lifeline as Sanctions Loom
By Serene Cheong (Bloomberg) -- Iran’s own fleet of tankers may provide a lifeline for its crude and condensate exports that’ll be slashed as U.S. sanctions against the Persian Gulf nation take hold. As Iran’s customers give in to mounting U.S. pressure, shipments from the OPEC member may drop to under 1 million barrels a day by mid-2019, down from a daily 2.5 … [Read more...]
Iran Forced to Rely on Own Tanker Fleet Even as Oil Exports Fall
By Julian Lee (Bloomberg) -- It is still nearly three months until U.S. sanctions on Iran’s oil exports snap back into force, but they are already having a big impact on the Persian Gulf country’s trade. The nation’s outflow has fallen, and Iran is having to rely more on its own fleet of tankers to carry oil to its customers, according to ship-tracking data … [Read more...]