Iran Sanctions May Be Reducing Oil Flow as Voyages Cut

U.S. and European sanctions designed to pressure Iran over its nuclear program may be cutting the Persian Gulf nation’s oil exports as vessels cancel trips to the country.

Shipments have declined by 300,000 to 400,000 barrels a day because sanctions are preventing Iran from selling oil, Amrita Sen, an analyst at Barclays Capital in London, said today by e-mail. Half of the tankers booked to load at the country’s largest terminal last month didn’t complete the voyages, according to brokers, company officials and ship-tracking data.