# Oil Storage

Standoff at the Strait: Iran’s Desperate Oil Gambit and the Threat of Global Stagflation

UN Secretary-General Guterres warns of a global economic crisis and a massive surge in poverty if the Strait of Hormuz remains closed through 2026. Meanwhile, Iran is resorting to using retired oil tankers as floating storage as its onshore facilities reach total saturation, risking permanent damage to its energy infrastructure.