Hormuz Oil Flows Surge Amid Ongoing Supply Disruption

A recent surge in crude oil shipments through the Strait of Hormuz has temporarily alleviated oil market tightness, but the overall supply disruption remains staggering.

The disruption, now in its eighth month, continues to deplete inventories and reduce demand for oil.

Shipments of crude oil and gas condensate through the Strait of Hormuz averaged 9.3 million barrels per day in September, a wartime high and a 50% increase over the daily average in March-August.

However, this is still 40% below the average prewar volumes flowing through Hormuz.