Iranian crude stockpiled on tankers near the Strait of Hormuz has surged 65% since the U.S. naval blockade began in April, with 42 million barrels now adrift at sea.

Oil prices remain near $100 despite the Hormuz disruption, but inventory drawdowns, spare capacity limits, and structural constraints suggest a delayed supply shock ahead.

Iranian crude stockpiled on tankers near the Strait of Hormuz has surged 65% since the U.S. naval blockade began in April, with 42 million barrels now adrift at sea.