USA Helps Iran Make Good Profit from Oil Exports

Iran is currently earning around $139 million per day from sales of its Iran Light crude, according to Bloomberg, citing export monitoring data from TankerTrackers. com and global energy price benchmarks.

Photo: commons.wikimedia.org by MODIS Land Rapid Response Team, NASA GSFC, https://creativecommons.org/public-domain/pdm/

The Strait of Hormuz and the Musandam Peninsula

This marks a significant increase compared to February, when average daily revenue stood at approximately $115 million. The latest figures indicate an increase of nearly $24 million per day.

Strait of Hormuz Disruptions Reshape Oil Flows

The situation is influenced in part by the de facto blockade of the Strait of Hormuz. However, the blockade is not universal-Iranian tankers continue to pass through the narrow maritime corridor without major disruption.

At the same time, oil exports from other Persian Gulf countries have been restricted, tightening global supply.

As a result of reduced Middle Eastern exports, global oil prices have risen above $100 per barrel, automatically boosting revenues for exporters, including Iran.

Stable Exports Despite Regional Tensions

Since the escalation of conflict in the Middle East, Iran has slightly reduced its export volumes, but only marginally. Unlike neighboring countries, Tehran has not curtailed shipments through the strait.

According to data from maritime analytics firm Windward, Iranian oil exports have remained relatively stable despite heightened regional tensions.

Discount Shrinks, Profits Rise

In addition to high global prices and uninterrupted shipping routes, another key factor behind rising revenues is the reduction in discounts on Iranian crude.

Before the recent escalation, Iranian oil was sold at a discount of more than $10 per barrel compared to North Sea benchmark Brent. That gap has now narrowed to just $2.10, significantly increasing the effective sale price and boosting overall income.

US Temporary License Adds Market Supply

On March 20, the US Treasury issued a temporary general license allowing transactions involving Iranian oil already loaded onto tankers. The license remains valid for 30 days, until April 19.

The measure applies to cargoes that were already in transit as of March 20. US Treasury Secretary Scott Bessent described the move as "narrowly targeted” and "short-term,” aimed at releasing approximately 140 million barrels of Iranian oil onto the market to ease prices during the energy crisis.

However, the decision surprised many observers, as it effectively allows Iran to profit from its primary export sector-despite years of US efforts to restrict such sales.

Demand Remains Strong as Supply Risks Grow

It remains unclear whether Iran truly needed such permission, given the current high global demand for energy resources, particularly in Asian markets.

Meanwhile, Alexander Dyukov, head of Gazprom Neft, warned that the global economy could face a serious oil shortage within the next few months.

He expects prices to rise significantly, though not exponentially. Even if the Middle East conflict were to end immediately, the market would not quickly return to normal conditions.

Market participants must now factor in heightened geopolitical risks associated with energy supplies from the Persian Gulf. Recovery will take months, requiring not only stabilization of production but also refinery repairs, logistical reconfiguration, and replenishment of depleted reserves.