Iran’s Asian Floating Oil Reserves Exhausted, Kpler Says

Iran’s crude oil held aboard tankers in Asian waters was exhausted by mid-October, according to energy analytics firm Kpler, removing a stockpile that had enabled continued sales to China during a U.S. blockade. The depletion reduces a major source of export revenue, although payments for earlier shipments may still be arriving. Kpler estimated that Iran had about 135 million barrels of crude stored overseas when the war began in February. The stockpile later peaked at nearly 90 million barrels after replenishment, then fell below 1 million barrels by October 5. Kpler says the remaining supplies were exhausted by mid-October. The figures refer to Kpler’s estimates. Other tracking organizations reported smaller remaining quantities in estimates covering different dates and areas: Vortexa analyst Emma Li put Iranian crude stored off Singapore at about 6 million barrels on October 9, while United Against Nuclear Iran estimated Southeast Asian floating reserves at 10 million barrels or less in early October and said the precise volume was difficult to establish. The blockade prevented Iran from replenishing the tanker-held reserves, according to the reports. The United States...