Iran’s Crude Builds as Tankers Drift in Limbo

President Trump’s return to the Oval Office saw US authorities sanction Iranian traders, middlemen and infrastructure with fervent intensity, triggering a string of new legislative measures targeting Tehran’s oil revenues. The clampdown intensified amidst the Israel-Iran crisis, with the White House extending its sanctioning spree first on Chinese refiners (mostly smaller ‘teapots’ in Shandong province) and then also on China’s port operators and midstream companies allegedly dealing with Iranian oil. With more than…