Iran's crude loadings crashed to zero in August from ~250k bpd, and Bessent says Tehran will have "no oil on the water this week." Goldman's desk flags dark exports pushing other Persian Gulf flows ba

What happened: Treasury Secretary Scott Bessent said Iran will have no oil on the water this week and no revenue, as crude loadings from the Strait of Hormuz collapse. Key numbers: Bessent cited about 1.1 billion barrels out of the Strait for the U.S. and zero for Iran. Why it matters: The collapse in Iranian loadings suggests the US naval blockade is constraining Tehran's export options, while recovering flows from other Gulf producers point to eroded Iranian leverage over the strait. If sustained, Tehran's oil revenues would plunge, pressuring the regime to make a deal.

Treasury Secretary Scott Bessent said Iran will have no oil on the water this week and no revenue, as crude loadings from the Strait of Hormuz collapse.

The collapse in Iranian loadings suggests the US naval blockade is constraining Tehran's export options, while recovering flows from other Gulf producers point to eroded Iranian leverage over the strait. If sustained, Tehran's oil revenues would plunge, pressuring the regime to make a deal.