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Bessent Says Iran Oil Storage Is Full, Forcing Production Halt
Treasury Secretary Scott Bessent said Iran’s oil storage is full and that the country will need to halt production after U.S. forces diverted 70 ships in the first month of the blockade. Bessent said Iran has been unable to load tankers at its main export terminal on Kharg Island over the past three days because the blockade is preventing ships from entering or leaving the Persian Gulf. Some analysts believe Iran still has several weeks of storage capacity, and Tehran has already begun slowly reducing production.