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U.S. Blockade Halts All Iranian Oil Exports, Gas Prices Soar

9/8/2026

13 2 Full Breakdown

Center

U.S. Navy Blockade

U.S. naval forces enforced a blockade that halted all Iranian crude oil exports in the Persian Gulf in early September 2026.
The blockade directly severs Iran’s oil revenue at the source, whereas sanctions only target post-shipment money flows.
Iran’s rial depreciated to roughly two million per U.S. dollar in early September 2026.
WTI closed at $91.48 on Sept 1 while U.S. gasoline hit $4.15 per gallon on Sept 4.

Left

U.S. Navy Stops

U.S. forces enforced a blockade that halted Iranian crude oil exports, leaving zero shipments by September 2026.
Blockade’s halt to flow pushed gasoline to a record price, straining budgets and fueling voter discontent toward President Donald Trump.
AAA said gasoline averaged $4.14 per gallon, the highest Labor-Day price ever.
A Financial Times/Focaldata poll gave President Donald Trump 33% approval, his lowest rating.

History

Historical Context

When the UN Security Council adopted Resolution 661 on 6 August 1990, it imposed a comprehensive trade embargo on Iraq after its invasion of Kuwait, cutting off oil exports and pressuring Saddam Hussein’s regime. The embargo set a precedent for using maritime blockades to cripple economies, a tactic echoed in the 2026 U.S. naval blockade of Iranian shipping, which similarly threatens Iran’s oil revenue and domestic stability.

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U.S. Navy Blockade

U.S. naval forces enforced a blockade that halted all Iranian crude oil exports in the Persian Gulf in early September 2026.
The blockade directly severs Iran’s oil revenue at the source, whereas sanctions only target post-shipment money flows.
Iran’s rial depreciated to roughly two million per U.S. dollar in early September 2026.
WTI closed at $91.48 on Sept 1 while U.S. gasoline hit $4.15 per gallon on Sept 4.

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