Oil Price Trends | US Relaxes Sanctions, Iran Says No Extra Crude Available for Export

SighingCashier · 2026-03-21T08:36:12+00:00

Washington conditionally relaxes oil sanctions on Iran, while Iran states it currently has no surplus crude oil available for supply. The U.S. Treasury Department permits the sale of Iranian oil already loaded on tankers to manage market sentiment. Additionally, Iran fired missiles at U.S. and British military bases but missed, demonstrating that its missile range exceeded expectations.

SighingCashier

2026-03-21 08:36:12

Abstract generation in progress

There are conditions for Washington to relax Iran’s oil sanctions. According to foreign reports, Iran’s Oil Ministry media outlet Shana quoted a ministry spokesperson as saying that currently, Iran basically has no remaining crude oil stranded at sea, nor any excess oil available to supply to other international markets.

The spokesperson stated that the license issued by the U.S. Department of the Treasury to allow the sale of loaded Iranian oil and petrochemical products “aims to create hope for buyers and to psychologically influence the market.”

Iran Launches Missiles at U.S. and U.K. Military Bases WSJ: Missed

Additionally, semi-official Iranian Mehr News Agency reported that Iran launched two ballistic missiles at the U.S.-U.K. military base Digos Gaziya located in the Indian Ocean.

The report indicated that the attack on the base was “a significant move… demonstrating that Iran’s missile range exceeds the previous expectations of enemies.”

The Wall Street Journal (WSJ) previously reported that Iran had launched two medium-range ballistic missiles at the base, but both missed their targets.

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