Report: Iran’s offshore oil stockpile could run out by October

A report by The Wall Street Journal indicates that since the U.S. Navy reinstated a naval blockade in mid-July, no Iranian crude shipments have successfully crossed the barrier. According to data from the shipping-analytics firm Kpler, Iranian crude reserves held on vessels outside the blockade have plummeted from approximately 90 million barrels in mid-July to about 29 million. Analysts estimate that if current delivery rates to buyers, primarily in China, continue, these floating stockpiles could be exhausted by mid-October. Meanwhile, loading activities within the Persian Gulf have also dropped significantly, reaching about 255,000 barrels per day in August—an 85% decline compared to the average between February and April. The economic squeeze is exacerbating Iran's domestic crisis, characterized by inflation exceeding 80% and a projected 5.4% economic contraction. While Washington aims to leverage this economic pressure to force concessions, some regional officials and analysts cited in the report warn that Tehran might respond with further military escalation rather than backing down.