Iran Eyes $130 Oil While at Least 50 Tankers Sit Stuck in the Gulf
An oil price of $130 per barrel could be one of the scenarios of Iran’s economic planners preparing the budget for the next Iranian year starting March 2027, according to Iranian media. It is not clear yet what baseline Iranian economists will use in next year’s budget, but the Plan and Budget Organization may include a scenario assuming $130 a barrel oil, according to Fars News Agency, which is…
Iran's economic planners may be considering a $130 oil price for next year's budget, according to Fars News Agency. This scenario, reported by Iranian media, is likely to be included within the baseline assumptions but is perceived as highly unlikely. Iran typically sets conservative oil price expectations.
However, the United States' blockade in the Gulf of Oman threatens Iran's oil exports. As of early October, at least 50 Iranian tankers were stranded in the Persian Gulf, according to United Against Nuclear Iran. The blockade was reinstated in July following the collapse of the U.S.-Iran deal and aims to force Iran's oil exports to zero.
Iran remains defiant, but vessel-tracking services estimate a significant decrease in oil exports since August. Floating storage has also been drained due to the blockade. Prior to the U.S. blockade in April, Iran had around 150 million barrels in floating storage; by mid-October, this had dropped to just 866,000 barrels.
Written by urgent.news from OilPrice's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
