Iran’s Floating Oil Stockpile Swells as Major Buyers Stay Away

Iranian oil stockpiles are building at sea as buyers are hard to secure ahead of a 60-day U.S. deadline. The inability to move cargoes before the window expires heightens supply/disruption risk and adds downward pressure on near-term offtake sentiment for Iranian crude.

Analysis

Iranian oil stockpiles are building at sea as buyers are hard to secure ahead of a 60-day U.S. deadline. The inability to move cargoes before the window expires heightens supply/disruption risk and adds downward pressure on near-term offtake sentiment for Iranian crude.