Tehran's oil export troubled just got worse. One week after we reported that Iran was already struggling to sell its crude to buyers in Asia (including China, which appears to now prefer UAE exports instead), overnight the US rescinded the sanctions waiver that allowed Tehran to sell its oil without penalties, making sales of Iranian crude to international buyers even more challenging. The Iranian attacks on three commercial vessels in the Strait of Hormuz on Tuesday prompted immediate US reaction with the USmilitary striking multiple targets in Iran and the Treasury canceling the waiver on Iran’s oil sales that was supposed to be in place until August 21.Iran’s oil sales could be constrained again even before they resume, OilPrice reports. Since the memorandum of understanding was signed in mid-June, Iran has rushed to load cargoes from its key export sites at Kharg Island, and move its tankers out of the Gulf as soon as possible, after weeks of virtually no exports because of the U.S. blockade that began in mid-April.The surge in Iranian shipments out of the Gulf and into waters near the Malacca and Singapore Straits gave Iran a lifeline to boost its exports that had suffered from the U.S. blockade.China has remained Iran’s key customer as other buyers are reluctant to commit to purchases. But in recent weeks, we learned that even Chinese purchases of Iran oil have slowed dramatically, and now that the US has ended the waiver and sanctions are in place again, buyers in India that were considering potential purchases have likely backed out. Additionally, one could go so far as to argue Iranian oil in tankers is once again subject to US seizure.Looks like the US has a license to seize Iranian tankers, especially those off Asia and waiting for Chinese teapot buyers to emerge. https://t.co/e9hxCwuOUx