Hormuz Oil Flows Mysteriously Higher as Strait Remains Chokepoint
The Strait of Hormuz has been in a state of turmoil for nearly six months due to the US-Iran conflict, leaving the oil market grappling with the question of how much crude is actually flowing through.
US officials claim that the strait remains open and oil is flowing through it faster than market estimates suggest. The US military is patrolling the waterway and escorting ships, while the Navy shares information on vessel movements with the Department of Energy.
The seven-day average of oil flowing out of the Strait of Hormuz has reportedly risen to 9 million barrels per day, according to US Energy Secretary Chris Wright. This contradicts Iran's claim that the strait is closed and ship-tracking data showing flows at about half that level.
However, some analysts are skeptical about the accuracy of this figure, citing conflicting data from various sources, including Kpler and Windward Intelligence. They argue that the oil market's picture may be incomplete due to the presence of 'shadow fleets' trying to conceal their locations and cargoes to avoid detection.