Although Iran has shaken global energy markets by closing the Strait of Hormuz, it is also facing intense pressure from the US naval blockade, which has pushed its oil exports down to their lowest level in six years as floating oil storage begins to shrink.<\/p>\n
Amid the tension, Iran is under heavy pressure after exports of crude oil and condensate in May fell to their lowest level in six years, with average exports dropping below 300,000 barrels per day because of the US naval blockade.<\/p>\n
Data from oil-shipping analytics firm Vortexa showed that Iranian oil exports in May stood at only 209,000 barrels per day, a sharp drop from 1.34 million barrels per day in April and almost 1.9 million barrels per day in March.<\/p>\n
Reuters reported that this level was the lowest since late 2019 to early 2020, when President Donald Trump pursued a \u201cmaximum pressure\u201d policy against Iran during his first presidential term.<\/p>\n
The collapse in exports came after the United States began enforcing a naval blockade on April 13, aimed at stopping vessels entering and leaving Iranian ports.<\/p>\n
At the same time, the global oil market is facing tight supply after Iran closed the Strait of Hormuz, heavily disrupting oil exports from Saudi Arabia, Kuwait, Iraq and the United Arab Emirates.<\/p>\n","protected":false},"excerpt":{"rendered":"Although Iran has shaken global energy markets by closing the Strait of Hormuz, it is also facing intense…\n","protected":false},"author":2,"featured_media":146445,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[28],"tags":[24308,158,102,34,196,5711,101,51],"class_list":["post-146444","post","type-post","status-publish","format-standard","has-post-thumbnail","category-strait-of-hormuz","tag-blockades","tag-breaking-news","tag-hormuz","tag-iran","tag-iran-war","tag-oil-export","tag-strait-of-hormuz","tag-united-states"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116696954128344317","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/146444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=146444"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/146444\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/146445"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=146444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=146444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=146444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}