Svmuu News: US Treasury Secretary Bessent stated that Iran's oil storage is full and Tehran will need to halt oil production. After the US imposed a blockade on Iranian oil exports, the key issue in this conflict lies in how long the oil Iran cannot export can be stored before storage capacity runs out. Some analysts believe that Iran still has several weeks of storage capacity, and Tehran has begun slowly reducing production to address this standoff.
In an interview with CNBC's "Squawk Box," Bessent noted that over the past three days, Iran has been unable to load oil tankers at its main export terminal on Kharg Island due to the US blockade preventing tankers from entering or leaving the Persian Gulf. In the first month of the US-imposed blockade, American forces have diverted 70 ships reportedly heading to or from Iranian ports. (Jinshi Data)