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Thursday, October 22, 2026Updated 11:44 UTC

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Iran’s Oil Reserves Run Dry as U.S. Naval Blockade Tightens

Source: OilPrice.com · Oct 22, 2026 07:00 UTC

Wall Street in New York's Financial District with flags hanging from buildings — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

Iranian oil in floating storage has been drained amid the U.S. Navy blockade, the Wall Street Journal has reported, citing Kpler data that suggests further tightening in global oil supply. “There’s no more oil to discharge to China anymore,” Kpler’s head of crude oil analysis, Homayoun Falakshahi, said, as quoted by the WSJ. Before the United States imposed a blockade on Iranian ports in April, Ir

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