Articles
Neutral, dated analysis and explainers across Iran’s markets.
NewsChina's Purchases of Iranian Crude More Than Halved in June Despite Sanctions Waiver; Over 20 Million Barrels Now Stranded at Sea (Tuesday, July 7, 2026)
China's imports of Iranian crude fell to about 654,000 barrels a day in June 2026, more than halving from a month earlier, despite Washington's temporary sanctions waiver effective June 22. Over 20 million barrels of Iranian oil are now idling at sea, up 18% week on week (July 2 and July 6, 2026, per Bloomberg and CNBC).
NewsRussia's Urals Crude Sinks to $41.66 a Barrel, Below Pre-War Levels, Deepening the Kremlin's Budget Squeeze (Monday, July 6, 2026)
Russia's Urals crude averaged $41.66 a barrel in early July, its lowest level since before the Iran-Israel-US war. Its discount to Brent has widened to $27.35 a barrel, compounding a budget already squeezed by a 45% drop in Q1 2026 oil and gas revenue (Monday, July 6, 2026).
NewsOPEC+ Raises August Output by 188,000 Barrels a Day as Persian Gulf Exports Through the Strait of Hormuz Top 10 Million Barrels (Sunday, July 5, 2026)
Seven core OPEC+ producers agreed at a virtual meeting on Sunday, July 5, 2026, to raise August output by 188,000 barrels a day. As the Strait of Hormuz gradually reopens following the Iran-US ceasefire, total daily oil flows through the strait have topped 10 million barrels, and Brent crude trades near $72 a barrel.
NewsSaudi Oil Exports Through Strait of Hormuz Hit 6.3 Million Barrels a Day; OPEC+ Nears August Output Hike (Saturday, July 4, 2026)
Saudi Arabia's crude exports through the Strait of Hormuz have climbed to 6.3 million barrels a day, per Bloomberg and CNBC (July 1 to 2, 2026), nearing pre-war levels after the Iran-US ceasefire. OPEC+ is preparing another roughly 188,000 bpd increase for August, as Iran holds its own 60-day US oil license.