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Iran Is Drowning in Its Own Oil
Iran may soon need to shut down domestic oil production, which could be a “death sentence” for its oil wells, writes Amit Segal. (Reuters/Raheb Homavandi/File Photo)
Without the Strait of Hormuz, the Iranian regime is running out of places to store oil, and it could have disastrous consequences.
By Amit Segal
04.28.26 — Israel
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With war raging in the Middle East, we want to bring you as many trusted voices on the news as we can. One such voice is the Israeli journalist Amit Segal. He writes a daily newsletter, It’s Noon in Israel, which we’re pleased to publish in The Free Press.

It’s Tuesday, April 28, and Iran is beginning to crack. Vindicating Donald Trump’s weekend claim that Iranian officials could “come to us, or they can call us,” Iran has reportedly presented a new proposal, offering to “reopen” the Strait of Hormuz and end the current hostilities, provided that U.S.-Iran nuclear negotiations are postponed to a later date.

Trump responded that while this offer is “much better” than previous proposals—which demanded Iranian sovereignty over the strait—it remains “not enough.” It goes without saying why surrendering Washington’s primary point of leverage over the regime before securing ironclad guarantees on the nuclear issue is a nonstarter.

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Amit Segal
Amit Segal is the chief political correspondent for Israel’s Channel 12 and author of the book A Call at 4AM, recently released in English. He is the author of the newsletter It’s Noon In Israel, which publishes six days a week.
Tags:
Strait of Hormuz
Trade
Russia
Energy
Ukraine
Oil
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