IRAN OIL SURGE SIGNALS RISING GEOPOLITICAL TENSIONS Iran’s oil exports have jumped to multi-year highs ahead of renewed nuclear talks with the U.S., with loadings reaching nearly 3.8 million barrels per day last week—almost triple recent levels, according to Kpler. The surge comes amid rising regional tensions, including increased military presence and risks to key routes like the Strait of Hormuz. Much of the activity has been conducted “dark,” using signal interference to avoid tracking. At the same time, unsold Iranian oil stored at sea has hit a record ~200 million barrels, partly due to weaker demand from China, its biggest buyer. The spike highlights both strategic stockpiling ahead of negotiations and growing uncertainty in global energy markets.(*Walter Bloomberg)