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Iran Juggles Oil Cuts and Storage Strain to Resist US Blockade
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Iran Juggles Oil Cuts and Storage Strain to Resist US Blockade

Bloomberg Markets · May 2, 2026, 12:33 PM · Also reported by 4 other sources

As the US naval blockade in the Strait of Hormuz tightens around Iran’s oil trade, exports have plunged in recent weeks and storage is rapidly filling. Already, the country has begun curbing production, according to a senior Iranian official.

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Also covered by

DW English Can Iran withstand the US naval blockade? The Hill Pentagon says US naval blockade has cost Iran $4.8 billion ARY News Trump says US Navy acting like ‘pirates’ during Iran blockade Al Jazeera Trump says US Navy acting ‘like pirates’ to enforce Iran blockade

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