Iran’s oil terminals are largely inactive as the United States continues to enforce a naval blockade, according to a report from Bloomberg Markets. Kharg Island, which handles the majority of the country’s crude exports, has recorded no tanker loading activity for at least a week, with numerous idle vessels queued offshore. The blockade, reimposed earlier this year, remains in force, indicating heightened tensions in the region. Market odds for the blockade to end by August 31, 2026, have dropped from 48% to 33.5% over the past 24 hours, reflecting lowered expectations for a near-term resolution.
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