WANA (Mar 27) – A new report by Bloomberg states that Iran has generated approximately $3.9 billion in oil revenue in less than a month following recent attacks by the United States and Israel.

 

According to the report, since the onset of the conflict, Tehran has likely secured hundreds of millions of dollars in additional income from oil sales, benefiting from rising crude prices.

 

Iran has reportedly taken advantage of market conditions as the only major exporter able to utilize the Strait of Hormuz during this period.

 

Bloomberg notes that Iran has profited from price shifts in two key ways. First, its benchmark crude has been sold to customers—primarily in China—with the smallest discount relative to Brent crude in more than 10 months. Second, global benchmark Brent crude prices have surged above $100 per barrel since the escalation began.

 

Based on export estimates from oil shipment tracking firm TankerTrackers and pricing data for Iran’s light crude, the report indicates that Iran has earned approximately $139 million per day from its main oil blend so far in March, up from $115 million per day in February.