Tensions are rising sharply in the Middle East after Iran seized a foreign oil tanker in the strategic Gulf of Oman, detaining 18 crew members in a dramatic maritime interception. Iranian authorities claim the vessel was carrying six million liters of illegally smuggled fuel and ignored repeated stop orders before attempting to flee.

Iran introduced a new pricing tier Saturda for its nationally subsidized gasoline, attempting to rein in spiraling costs for the first time since a price hike in 2019 that sparked nationwide protests and a crackdown that reportedly killed over 300 people.

Iran is aggressively expanding partnerships with allied states to grow its oil and gas sector despite Western sanctions and rising unsold crude inventories.

Recent FDD reports found that Iranian oil exports have remained near peak levels in spite of U.S. sanctions, which the think tank attributed to a failure of enforcement