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Iran said Friday it has no surplus crude oil available for international markets, after the U.S. treasury secretary suggested Washington could lift sanctions on Iranian oil at sea.
“Currently, Iran basically has no surplus crude oil left on the water or for supply in other international markets, and the U.S. treasury secretary's statement is solely aimed at giving hope to buyers,” Iranian Oil Ministry spokesman Saman Ghoddoosi wrote on X.
Regional hostilities in the Middle East have escalated since Israel and the US launched a joint offensive on Iran on Feb. 28, so far killing some 1,300 people, including then-Supreme Leader Ali Khamenei.
Tehran has retaliated with drone and missile attacks across the region and has effectively closed to most ships the Strait of Hormuz, a key oil transit route that normally handles about 20 million barrels per day and roughly 20% of global liquefied natural gas trade.
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