Iran’s Vanishing Floating Storage

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EOA’s Main Takeaways:

• Iran’s floating storage has vanished, even without an apparent deal with the Biden Administration (Bullish).

• In case of a nuclear deal, there is no more Iranian oil to be added to the market (Bullish).

• Some estimates have exaggerated Iran’s oil production increases in 2023 (Bullish).

Iran’s large floating storage has vanished as shown in Figure (1) below!