Is Iran getting rich from its oil blockade in the Strait of Hormuz

Iran's oil revenues jumped to around $139 million per day in March 2026, up from an average of $115 million in February.Export Dominance : Because the blockade crippled the exports of other Gulf states (such as Iraq, Kuwait, and the UAE), Iran became the only major exporter that could still effectively ship oil through the strait.Global Oil Prices : These tensions pushed Brent crude oil prices to soar above $100-$120 per barrel , which automatically increased the value of Iran's exports.Narrowing Discounts : Iran is now selling oil at a much smaller discount (around $2.10 per barrel) than before (over $10 per barrel), due to high demand from riskier buyers."Safe Passage" Fees : Reports have emerged that Iran charges transit fees of up to $2 million per vessel for certain ships to safely pass through the strait, although these claims have been denied by Iranian officials.Become a supporter of this podcast: https://www.spreaker.com/podcast/today-explained--6659607/support.Don’t miss our latest episodes! follow us to stay updates with fresh news everyday. Let’s keep the support our podcast to serve update news entire the world!