Iran has exhausted the offshore crude stockpiles that helped sustain its oil sales during months of American naval pressure, removing a financial cushion as Tehran confronts the growing economic costs of war.
The Wall Street Journal reported that Iranian oil stored aboard tankers in Asian waters had been depleted by mid-October, citing analysts at commodities-data company Kpler. Those cargoes allowed Tehran to continue supplying Chinese refineries even while the U.S. blockade prevented replacement shipments from reaching overseas customers.
