Iran’s crude oil held offshore is increasing as major buyers stay away ahead of an approaching U.S.-related deadline, according to multiple reports. Bloomberg says a growing volume of Iranian oil is idling in Asian waters while the Islamic Republic seeks buyers before a 60-day window granted by Washington runs out. Kpler Ltd data cited by Bloomberg indicate more than 20 million barrels of Iranian crude are on water for at least seven days, rising nearly 18% versus the previous week. Bloomberg also reports that total Iranian oil on water—covering oil in transit or stationary—has been estimated at between 58 million and 68 million barrels since a sanctions waiver began last week, based on Vortexa data and Bloomberg calculations. Moneyweb similarly describes the expansion of the floating stockpile and notes that major buyers are not stepping in to take cargoes. Bloomberg Intelligence’s Mike McGlone characterizes the movement of oil as part of a broader “normal cycle,” framing the current volatility as routine rather than an isolated event, while still acknowledging the accumulation linked to buyer hesitancy.