The United States revokes exemptions for Iranian oil sales, leaving approximately 63 million barrels of Iranian crude stranded at sea.

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Mars Finance News, July 8 - According to Bloomberg citing Vortexa data, after the United States revoked the exemption for Iranian oil sales, approximately 63 million barrels of Iranian crude oil are currently stranded at sea, with most tankers staying in the Persian Gulf and Asian waters and having yet to find buyers. Earlier, the U.S. had allowed Iran to sell crude oil within 60 days without facing sanctions, but this week it revoked the exemption on the grounds of Iran's attack on oil tankers in the Strait of Hormuz, hindering the sale of a large amount of already loaded crude oil. Market participants indicate that under the impact of sudden changes in U.S. policy, European and American sanctions, and insurance restrictions, Iranian crude oil exports are once again under pressure. Apart from China, no Asian refinery has publicly purchased Iranian crude oil so far, and the industry expects that Iran may need to further increase discounts to attract overseas buyers.
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