Iran’s Floating Oil Hoard Swells

More than 20 million barrels of Iranian crude have been idling in Asian waters for at least seven days, an increase of nearly 18% from a week earlier, according to Kpler Ltd. The overall volume of Iranian oil on water, either in transit or stationary, has ranged from 58 million to 68 million barrels since a US sanctions waiver took effect last week, according to Vortexa and Bloomberg calculations. Iran has a 60-day window to find buyers for the oil before the waiver expires.

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