Iran runs out of oil storage
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Iran has only two to eight weeks left before it must curb oil production, risking long-term damage to its oil fields, experts said. In the face of the US blockade on Iranian ports, Tehran is running out of storage space after it has been forced to divert its oil to onshore storage tanks,
From reviving old tankers to using degraded storage infrastructure, Iran is stretching its system to avoid a shutdown. But these measures are inherently short term.
(CNN) — If the United States assumed, before attacking Iran, that the major oil producer would be reluctant to close the Strait of Hormuz for fear of blocking its own oil exports, it miscalculated. Traffic through the strait, through which a fifth of the ...
Turkish oil and natural gas pipeline operator BOTAS will make an investment to quadruple its crude oil storage capacity to 45 million barrels at its facilities in Ceyhan in the eastern Mediterranean,
CHICAGO -- Oil prices eclipsed $100 per barrel for the first time in more than three and a half years Sunday as the Iran war hinders production and shipping in the Middle East. The price for a barrel of Brent crude, the international standard, was at $107. ...