Iran's floating oil stocks in Asian waters have run out under US blockade, WSJ reports

Millions of barrels of Iranian crude that Tehran had kept on tankers in Asian waters were used up by mid-October, because the US naval blockade stopped Iran from replenishing them, The Wall Street Journal reports, citing Kpler, according to Iran International and Taiwan's United Daily News. The floating stocks, held off Malaysia and Singapore and moved onto other tankers bound for Chinese refineries, had given Iran a steady income during the war. Kpler's head of crude analysis, Homayoun Falakshahi, said there was "no more oil to discharge to China anymore". United Daily News adds that oil sales supply roughly 30 to 40 per cent of Iran's government revenue, and that Chinese payments for earlier cargoes are expected to dwindle.

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