IRAN FLEET OF SHADOW TANKERS HAS RUN OUT OF OIL

What happened: Iran's floating oil storage in Asian waters has been fully depleted, according to the Wall Street Journal, as a U.S. naval blockade prevented Tehran from replacing crude normally sold to Chinese refineries. Why it matters: The loss of oil revenue is a further blow to Iran's economy, which the report says is already facing runaway inflation and widespread shortages.

Iran's floating oil storage in Asian waters has been fully depleted, according to the Wall Street Journal, as a U.S. naval blockade prevented Tehran from replacing crude normally sold to Chinese refineries.

The loss of oil revenue is a further blow to Iran's economy, which the report says is already facing runaway inflation and widespread shortages.