Iran says it is selling oil at 20% premium as end of U.S. blockade sees 40 million barrels exported
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- Iran has exported more than 40 million barrels of crude oil since the U.S.
- The U.S. and Iran signed a memorandum of understanding on June 17 to end nearly four months of war and reopen the Strait of Hormuz, and set up 60 days of negotiations to work out a permanent peace deal.
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Iran has exported more than 40 million barrels of crude oil since the U.S. removed its naval blockade of Iranian ports, and is now selling oil at prices roughly 20% higher than before the war, parliament speaker and chief negotiator Mohammad Bagher Ghalibaf said Tuesday.
The U.S. and Iran signed a memorandum of understanding on June 17 to end nearly four months of war and reopen the Strait of Hormuz, and set up 60 days of negotiations to work out a permanent peace deal. The two sides briefly traded strikes over the weekend after Iran attacked two transiting vessels.