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Gold
One platform for global traditional assets
Options
Hot
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Due to the U.S. blockade of the Strait of Hormuz, Iran’s oil storage capacity is about to run out, leaving only 12 to 22 days of unused storage capacity remaining, according to Bloomberg.
Therefore, Iran may soon need to further cut its daily oil production by 1.5 million barrels.
A large portion of these Iranian oil exports were originally destined for Asian countries, which are currently facing the most severe energy crisis in history.