11:23 - 21.08.2026

---

August 21, Fineko/abc.az. According to energy analytics firm Kpler, nearly 40 million barrels of Iranian crude oil are waiting on tankers near Singapore, a key ship-to-ship transfer hub for deliveries to China. However, analysts note that only 10% of this volume remains unsold.

Meanwhile, at least 41 million barrels of oil and 22 empty tankers are currently stranded in the Persian Gulf. Analysts indicate that the bottleneck deals a blow not only to Tehran but also to China’s independent refiners ("teapots"), who serve as the primary buyers of Iranian crude.

Kpler’s senior crude analyst Muyu Xu stated that buyers may see virtually no new supplies from Iran starting from late September. As supply tightens, Iranian sellers are demanding higher prices: Iranian Light crude offers surged from a $3.50 discount to a $3.50 premium over ICE Brent in just one week.

Tensions are expected to rise further as US Treasury Secretary Scott Bessent announced plans for "the largest coordinated economic isolation in world history" against Iran, which could target Chinese ports or refineries taking in Iranian oil.