Iran’s Oil Industry Faces a Geological Time Bomb

Weeks of US and Israeli air strikes, sanctions, and restrictions have hit Iran hard, but it could be geology that eventually pushes it into making concessions in its ongoing standoff with the United States. As the US naval blockade of Iran approaches the end of its third week, data from shipping and industry monitors suggests that tankers have been unable to move Iranian crude through the Strait of Hormuz toward markets in Asia. This means that Iranian oil storage capacity is rapidly filling, and the clock is ticking before Iran will need to cease…