IRAN’S OIL REVENUES COLLAPSE AS BLOCKADE TIGHTENS Iran’s oil income is rapidly shrinking as a US naval blockade restricts exports and offshore stockpiles fall. Iranian crude stored outside the Gulf has dropped from 90 million to 29 million barrels, while shipments to China are dwindling. With oil funding roughly a third of Iran’s state budget, the squeeze is worsening inflation, weakening the rial and pushing the economy deeper into crisis.(*Walter Bloomberg)