Iran oil storage nears capacity as US blockade cuts exports

Iran has 12-22 days of oil storage capacity left as a US naval blockade continues, and the Polymarket contract for a crude oil all-time high by April 30 sits at 0.4% YES.

The blockade started April 13, 2026, and has cut Iran’s exports from 1.5 million barrels per day to 0.8 million. Onshore storage is nearly full, with a potential annual revenue loss of $9–15 billion. The Crude Oil All Time High by April 30 market holds at 0.4% YES, unchanged from earlier but down from 2% a day ago. It takes $695 to move the price 5 points, a thin market.

The WTI Crude Oil Prices in April 2026 contract remains at 0.2% YES, also unchanged from earlier and down from 1% a day ago. That market requires $1,632 to shift 5 points, making it somewhat thicker than the all-time high contract.

Iran’s storage problem could force production shutdowns or distressed selling, either of which would ripple through crude pricing. The US also faces a May 1 congressional deadline to obtain approval for continued operations. A YES share in the crude oil high market at 0.4¢ pays $1 if crude surpasses $120 by April 30, a 250x return. That bet requires believing supply disruptions will worsen enough to push crude past its record.

Watch for Trump’s decisions on extending military operations past May 1 and any OPEC+ production adjustments. Both could move these contracts sharply.

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