Iran Eyes $130 Oil While at Least 50 Tankers Sit Stuck in the Gulf

Summary

Iran is reportedly considering a $130/barrel oil price scenario for its 2027 budget, though this is highly speculative. The more immediate market factor is the effectiveness of the US naval blockade in the Gulf of Oman, which has stranded at least 50 Iranian tankers and severely curtailed exports by draining floating storage, effectively removing millions of barrels from the global market.