Iran Oil Inventories Slump With Wave of Protests, Kayrros Says
Technicians work on an oil installation on Kharg Island, off the coast of Iran.
Source: Bloomberg
Iranian oil stockpiles at a key export terminal are about a fifth lower than where they started the year, a possible sign the country is moving crude out of harm’s way amid a wave of unrest over the past two weeks, according to the founder of a company that tracks inventories with satellites.
Crude stockpiles at the critical Kharg Island terminal that loads Iranian barrels fell 30% from Jan. 1 to Jan. 4, Kayrros’ Antoine Halff said in a post on X. Though they recovered in subsequent days, they remain 22% below year-earlier levels, he added, while inventories across the country as a whole have since fully recovered.