Crude oil exports in the Middle East rebounded in September as the Iranian regime continued to lose its control over the Strait of Hormuz.
Nineteen very large crude oil carriers carrying about 38 million barrels exited the strait just last week, according to data from a Kpler report on Monday.
‘You are preventing them from getting access to money that they will use to try and kill Americans and others around the world and their own people.’
The report said crude oil exports from the Middle East had recovered to about 80% of pre-military operation levels in February.
About 20% of the global oil supply is transported through the Strait of Hormuz, which was nearly completely closed off by the Iranian regime after U.S.-Israeli strikes began in late February.
In August, U.S. officials told Axios that military operations had successfully targeted and eliminated Iranian assets in their effort to keep the Strait of Hormuz shut down.
“That sucker is open. The Iranian response is very mild,” said President Donald Trump in a phone call to the news outlet at the time. “They don’t want us to go back at them. That’s the whole ball game. The rest doesn’t matter.”
The Iranian regime has apparently tried to use spiking gas prices to pressure the Trump administration into caving to its demands to end the military conflict.
Iran is facing its own financial pressure after the Rial, the country’s currency, crashed even farther on Tuesday.
Iranian Foreign Minister Abbas Araghchi indicated that leaders were speaking with mediators from Qatar in order to resume talks with the U.S. about a possible peace deal.
Trump has predicted that Iran is waiting to see the results of the midterm elections before approving a peace deal, but he also threatened to drive Iran “into hell.”
U.S. Secretary of State Marco Rubio praised the U.S. economic embargo against Iran in comments Monday on Fox News.
“When you’re denying them money through oil sales and sanctions, you’re not just punishing them,” Rubio said. “You are preventing them from getting access to money that they will use to try and kill Americans and others around the world and their own people and build weapons and threaten the world and ultimately break out to a nuclear weapon program.”
RELATED: Trump threatens to drive Iran ‘into HELL’ — and predicts when peace deal will be reached
Economic expert and Blaze Media contributor Carol Roth said in comments to Blaze News that the oil transport work-around was a welcome relief but still a fragile solution.
“If this work-around is sustainable in the short-run, we could [see] some relief pop up at the gas pumps within weeks,” she said. “If it is sustainable for longer, that could lead to even more relief, which impacts not only consumers directly via gas and other energy prices, but also flows through the broader economy.”
Roth added that American consumer sentiment has plunged downward as a result of the effects of the conflict with Iran.
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