Iran has called for a 10% reduction in gas consumption to address an anticipated winter shortfall of 100 to 250 million cubic meters per day, cited as a result of infrastructure damage from recent conflict. Simultaneously, Iran announced a full blockade of the Strait of Hormuz following a record 28 ship attacks in October, including hits on supertankers. The IRGC Navy has claimed control over the waterway and issued warnings to vessels against using unauthorized routes.
Tehran said tankers were hit overnight, while the Associated Press reported oil shipments continuing through the strait as attacks escalated and Qatar pursued efforts to ease tensions.
Read the full storyShips continue to transit the strait despite the risks, while spot tanker charter costs reached hundreds of thousands of dollars a day and flows through a Saudi alternative route rose.
Tehran pledges immediate rewards for consumers who save gas, as the government forecasts a daily shortfall of up to 250 million cubic meters during the cold season.