Iran Rushed $6 Billion in Oil to Market During Brief U.S. Ceasefire

Iran moved roughly $6 billion in crude through the Strait of Hormuz during a three-week ceasefire with the United States, rushing cargoes to Asian waters before Washington reinstated sanctions and resumed strikes on July 9, 2026. Revenue exceeded Tehran's own forecasts. The truce, signed mid-June, collapsed into a full coastline blockade and 9% oil price spike by mid-July.