Strait of Hormuz: IEA's Alert on Oil Gives Iran More Leverage

The International Energy Agency (IEA) report published on May 13, 2026, reveals a collapse in global oil stocks, providing Iran with leverage in diplomatic negotiations. Tehran is using the Strait of Hormuz as a selective negotiation tool, targeting vessels linked to the U.S. and Israel while allowing others to pass. This strategy fragments the Western front and strengthens Iran's Asian alliances, increasing pressure on the U.S. just months before the midterm elections.