Iran Sneaks 12 Million Barrels Past Renewed U.S. Oil Blockade

Iran is estimated to have sneaked supertankers with a total of 12 million barrels of crude oil in the week between the end of the U.S. waiver on Iranian oil sales on July 7 and July 14, just as the U.S. announced the renewed blockade on Iranian ports and oil cargoes. Last Tuesday, July 7, Iranian attacks on three commercial vessels in the Strait of Hormuz prompted an immediate U.S. reaction, with the U.S military striking multiple targets in Iran and the Treasury canceling the waiver on Iran’s oil sales that was supposed to be…