Iran’s oil exports have nearly collapsed under the U.S. blockade, according to tracking data from Kpler, UANI and Windward.
No Iranian crude loadings have been observed since August 25. Iran’s floating oil stocks outside the blockade zone have fallen from nearly 90 million
Assessment
Iran's oil exports appear to have ground to a halt, with no crude loadings detected since late August and floating storage outside the blockade zone dropping sharply from nearly 90 million barrels. This suggests the U.S. blockade is biting harder than in recent months. The key question is whether this pressure forces Tehran to negotiate or accelerates its nuclear program as a hedge. Watch for any Iranian retaliation through proxies in the Gulf or Iraq.