Iran’s Floating Oil Hoard Swells as Major Buyers Stay Away More than 20 million barrels of Iranian crude have been idling in Asian waters for at least seven days, up nearly 18% from a week earlier, according to Kpler Ltd. More than 90% of these cargoes on water have no clear destination. The vessels are either indicating “for orders” or Singapore as their next port of call, a sign they may conduct ship-to-ship transfers in the Malacca Strait. China’s imports of Iranian crude more than halved in June to about 654,000 barrels a day from a month earlier, according to Kpler. Indian Oil Minister Hardeep Puri met his Iranian counterpart in New Delhi last week, but stopped short of committing to imports. (Bloomberg)