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Hormuz Strait Oil Shipments Hit Six-Month High
The Strait of Hormuz has witnessed an unprecedented increase in the volume of oil and liquefied natural gas shipments over the past two weeks, with more than a billion barrels of crude oil passing through, primarily by U.S. allies who have managed to surpass shipment levels from the past six months. This comes after successful maritime protection efforts and mine clearance led by the U.S. Central Command. Conversely, data indicates that Iran's oil exports remain nearly halted due to U.S. sanctions, with satellite images not tracking any Iranian tankers lifting oil for over two weeks. These developments occur amidst escalating market tensions, with Iran's exports declining and demand for oil through the Strait of Hormuz increasing.
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