Iran Oil Exports Near Zero But Peace Deal Not Likely, FGE Says

USS Rafael Peralta (DDG 115) near what the U.S. Central Command said was a vessel attempting to sail to an Iranian port, as it enforces the U.S. blockade on Iranian ports, at an unknown location, released April 24, 2026. U.S. Central Command/Handout via REUTERS

Nov 6, 2026 (Bloomberg) –Iranian oil exports have dwindled to almost nothing under the US naval blockade, but the chance of an imminent deal between the two sides to end the war is low, according to FGE NexantECA.

The Republican Party’s disastrous showing in the midterm elections means Tehran perceives President Donald Trump as politically weakened, FGE Chairman Emeritus Fereidun Fesharaki said in a Bloomberg TV interview with Haslinda Amin. Iran is now making demands the White House cannot accept, he said.

“Not only are we not close to a resolution, we are even worse than we were before the June MOU,” Fesharaki said, referring to an agreement that temporarily reopened the Strait of Hormuz. The likelihood of renewed strikes on Iran is high, as Trump and Israeli Prime Minister Benjamin Netanyahu have only limited time to act, he said.

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