Iran's oil exports collapse as US naval blockade of Hormuz tightens

Iran's crude exports have fallen more than 80 percent this month compared with a year ago, to roughly 260,000 barrels a day, as the US naval blockade first imposed in July chokes off shipments through the Strait of Hormuz. China, by far Iran's largest buyer, has also sharply cut its purchases this month, and no Iranian supertanker has been sighted crossing the strait since July.

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