Millions of barrels of Iranian oil sit beyond Trump blockade as he vows ‘zero leakage’

Far from the U.S. warships enforcing a blockade at the mouth of the Persian Gulf, nearly 40 million barrels of Iranian crude are sitting aboard tankers in waters near Malaysia, east of Singapore.

The cargo amounts to roughly 20 very large crude carriers’ worth of oil, a floating stockpile that could still give Tehran a way to turn crude already outside the blockade zone into cash even as the blockade sharply restricts fresh exports.

The stockpile poses a test for the Trump administration...