Iranian oil sales
Coverage of Iranian oil sales in the Nexus archive.
- U.S. rescinds waiver permitting Iranian oil sales after Iranian attacks on tankers
The Trump administration revoked a waiver allowing Iranian oil sales, a key source of revenue for the regime. The decision followed Iran's attacks on three tankers in the Strait of Hormuz.
- US airlines’ monthly fuel spending topped $6 billion again in May, up 84% from year ago
U.S. airlines spent $6.66 billion on jet fuel in May 2026, an 84% increase from May 2025, driven by higher fuel prices rather than increased consumption. Fuel prices averaged $4.09 per gallon, 85% higher than the previous year, while consumption slightly declined. The rise in costs is linked to disruptions in the Strait of Hormuz due to Middle East conflicts, though recent declines in fuel prices offer some relief.
- US strikes Iran after ships attacked in Hormuz
The US launched strikes against Iran following attacks on three commercial vessels in the Strait of Hormuz, accusing Iran of violating a recent ceasefire. The US reimposed sanctions on Iranian oil sales, while oil prices rose due to the escalation. Iran claims it should control traffic through the waterway, contributing to ongoing global instability.