Tag: IRGC

Tankers U-Turn as the IRGC Says Strait of Hormuz is Closed: What Happens Next is Anyone’s Guess and Price Volatility Looks to Be Short Term

Clark Savage173

In a fluid and confusing situation that has maritime operators on edge, several tankers and cargo vessels executed abrupt U-turns in the Strait of Hormuz over the past 48 hours after Iran’s Islamic Revolutionary Guard Corps (IRGC) signaled a return to tight control of the waterway. While Iran’s foreign minister declared the strait “completely open” […]

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Cracks Are Emerging in Iran’s Once-Resilient Oil Sector

Clark Savage32

Iran’s crude production is expected to remain stable near 3.2 million bpd, with protests posing limited short-term risk to upstream operations. Heavy discounting to China and costly sanctions-evading logistics mean Iran captures only about two-thirds of benchmark oil prices. Chronic underinvestment, late-life fields, and the near depletion of the National Development Fund are undermining the […]

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