MacroEnergyIran's 'Zero Oil Exports' Claim Isn't True Yet — It Could Be by Late September
Iran’s ‘Zero Oil Exports’ Claim Isn’t True Yet — It Could Be by Late September
Iran’s central bank governor said this week it’s “a reality that we are not exporting oil.” That’s premature, but the math is closing fast: China’s Iranian imports fell from 785,000 bpd in June to 823,000 in July to just 534,000 bpd so far in August. Floating storage outside the blockade zone has dropped from 105 million to 80 million barrels, with only about 30 million left in Asian waters. One Kpler analyst warned buyers could see virtually no new Iranian supply for late-September delivery. The zero-export claim is a forecast now — it becomes fact within weeks.
#Iran #OilExports #StraitOfHormuz #Sanctions #CrudeOil
UPDATE: Bessent’s Iran Isolation Threat Now Has a Monday Deadline — and a China-Sized Price Tag
What changed since the initial pivot: there’s now a date, a target, and a body count of goodwill. Bessent called it “a one-two punch” with the blockade, promising “the toughest sanctions in history” to “collapse this regime.” He noted China gets 50 per cent of its energy from the Gulf, urging Beijing to “get with the programme.” The UAE already went further than words, halting all trade and financial transactions with Iran. Monday’s announcement will show whether Washington matches that with China.
#Iran #Sanctions #China #StraitOfHormuz #CrudeOil
China Is Out-Bidding India for Russian Crude — India’s Imports Just Hit a War-Era Low
China’s share of Russian crude sourced from European ports jumped to 31% in August from 22% in June, moving into India’s traditional supply lane. India’s imports from those ports are down almost 30%, pulling its total crude imports to the lowest level since the Iran conflict started. India is a major exporter of diesel and gasoline into an Asian market already short of both, and crude arriving today becomes fuel tomorrow. If India can’t replace those barrels, September product exports — not just Indian refiners — take the hit.