Iran oil storage runs out in 22 days as Hormuz blockade squeezes exports and prices surge

Published on 29 April 2026

Only 22 days of storage slack remain

Iran is racing against time as shrinking oil storage capacity meets a tightened US-led blockade affecting exports through the Strait of Hormuz. With unused storage dwindling, Iran may be forced to cut production, while neighboring exporters also trim output. The pressure is feeding into a global oil price rally, though Iran’s full revenue hit may arrive later.

Iran’s oil storage cushion is shrinking fast
Hormuz blockade is restricting exports through a key chokepoint
Oil price pressures rise as neighboring output cuts deepen
Iran’s revenue damage could show up with a delay

#global energy #exports #strait of hormuz #oil prices #iran

Read the full story at The Economic Times

This summarization was done by Beige for a story published on The Economic Times

Iran oil storage runs out in 22 days as Hormuz blockade squeezes exports and prices surge

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