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US Sees 10 Million Barrels Via Hormuz Sapping Iran Oil Leverage

Iran says it wants to control shipping through the Strait of Hormuz as tanker traffic rebounds and sanctions-hit oil exports climb, analysts said.

  • Maritime traffic through the Strait of Hormuz rebounded to 44 transits on Monday, with vessels primarily fuel-focused to stabilize oil supplies amid regional military operations.
  • Deputy Foreign Minister Kazem Gharibabadi reiterated Iran's intent to oversee maritime traffic, while Foreign Minister Badr al-Busaidi emphasized Oman supports only "voluntary" fees under the United Nations Convention on the Law of the Sea.
  • Iran denied technical talks with the United States were scheduled this week, contradicting President Trump's claim of a Doha meeting, while Tehran seeks $6 billion in frozen funds from Qatar.
  • Israel Defense Minister Katz instructed the Israel Defense Forces to prepare for "Operation Blue and White," signaling an imminent attack on Iran with capabilities not yet deployed.
  • The 60-day MOU window disproportionately favors Iran's export capacity, positioning Tehran to potentially re-close the Strait and leverage 105M–120M barrels stored beyond the United States blockade.
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The recent memorandum of understanding between the United States and Iran promises to restore the flow of oil, natural gas, sulphur and fertilizers through the Strait of Ormuz, which will ease pressure on agricultural markets and reduce the risk of an even more serious global food security crisis. However, although the memorandum of understanding may reduce the intensity of the crisis (assuming the strait remains open), it cannot erase the funda…

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naked capitalism broke the news on Tuesday, June 30, 2026.
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