Oil Transits Through Strait of Hormuz Reach Six-Month High
U.S. Central Command reports oil volumes through the Strait of Hormuz have recovered to 11 million barrels per day amid ongoing conflict with Iran.
Commercial transits and oil volumes through the Strait of Hormuz have reached their highest levels in six months, with a seven-day average now between 10 million and 11 million barrels per day. According to United States Central Command, this recovery is part of a broader effort to mitigate global energy market disruptions caused by the ongoing conflict with Iran.
Saudi Arabia has increased its shipments through the strait to compensate for the loss of its East-West Pipeline, which has remained offline since attacks on September 10. To further stabilize exports, bypass routes in the United Arab Emirates and Saudi Arabia are being utilized, with Fujairah moving approximately 2.28 million barrels of crude per day in July.
Meanwhile, the federal government of the United States maintains a naval blockade that has severely restricted Iranian crude exports, dropping from 1.85 million barrels per day in March to roughly 255,000 in August. This economic pressure has contributed to a projected inflation rate of 69% in Iran. Through Qatar, Iran has demanded the release of frozen funds, an end to the blockade, and a cessation of war on all fronts as conditions for ending the conflict.
