US Iran War Latest Update: US Blockade Costs Iran $4.8 Billion; Oil Tankers Stranded in Gulf, Says Pentagon

The US estimates Iran has lost nearly $5 billion in oil earnings due to a blockade in the Gulf of Oman, with 53 million barrels of Iranian crude currently stranded. Iran is attempting to circumvent the blockade by exporting oil to China. The US continues to exert pressure, warning of potential cuts to Iranian oil production.