Hormuz Oil Flows Plummet as Conflicts Intensify

Oil flows through the Strait of Hormuz have declined significantly to 3.8 million barrels per day over the past seven days, according to TankerTrackers, a specialized oil tanker monitoring service.

This represents a sharp decline from previous averages of 9.8 million barrels per day, which were recorded during the period of the memorandum of understanding between Iran and the United States.

GOLDMAN SACHS reported that oil flows through the Strait of Hormuz have recovered to about two-thirds of their pre-conflict levels, playing a pivotal role in containing the negative repercussions of the conflict on crude oil prices in global markets.