Former Trump Economic Adviser: Iran’s Oil Exports Have Fallen to Zero. Here’s What It Could Mean for Oil Prices AvigatorPhotographer / iStock via Operation Economic Outcast has driven Iran's crude exports to zero, with no oil transiting the Strait of Hormuz to China since the naval blockade. O'Brien argues physical interdiction beats paper sanctions because China refuses to pay without cargo, cutting Iran's revenue at the point of transfer. WTI surged 5% to $91 per barrel and U.S.
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