Iran Nears Oil Storage Capacity as U.S. Naval Blockade Continues Iran is rapidly running out of onshore storage capacity for crude oil as the U.S. naval blockade in the Strait of Hormuz continues, according to analysts and satellite imagery. U.S. President Donald Trump warned on Monday, April 27, that the Islamic Republic has until Wednesday, April 29, before reaching maximum storage capacity, putting billions of dollars at risk, the New York Post reported. Massive supertankers have been observed at Kharg Island, which handles approximately 90% of Iranian crude exports, and are being used as floating storage, according to Bloomberg…
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