Iran has started to store oil in its own tankers off its coasts ahead of the U.S. sanctions on its oil exports that are expected to cut Tehran’s ability to ship and sell oil to customers around the world. According to tanker tracking data compiled by Bloomberg , at least five tankers owned by the National Iranian Tanker Company (NITC) have been sitting fully laden with crude oil off the Kharg Island oil terminal in the Persian Gulf over the past two and a half weeks. Another two tankers full of Iranian condensate, the ultra light oil Iran produces from its natural gas fields, have been anchored off Dubai for weeks, according to Bloomberg’s tanker tracking data. Under the previous round of sanctions on Iran, OPEC’s third-largest producer had used this strategy—keeping oil in floating storage off its coasts—when the U.S. and European sanctions in 2012-2016 cut its ability […]