Hormuz Oil Shipments Hit Six-Month High Amid Global Squeeze

Hormuz oil shipments have reached a six-month high, according to Admiral Brad Cooper, head of US Central Command. In a video message on September 19, he stated that 'momentum is building' due to US naval protection and mine clearance efforts. The Strait's primary transit lanes are clear of mines, and Persian Gulf allies have shipped over one billion barrels of crude through it in the last couple of months.

The increase in oil shipments comes as the global market faces a squeeze on oil and petroleum products since the summer, partly due to drone attacks linked to the Iran war that halted a Saudi Arabian pipeline bypassing the strait. US Energy Secretary Chris Wright said on September 13 that markets will need to continue relying on transit at an estimated 10 million barrels a day of crude and oil products through the Strait of Hormuz.

Cooper emphasized that the US, along with Persian Gulf allies, insurers, and shipping companies, is working to further increase the flow through the strait. 'The effort is paying off,' he said, adding that Iran has exported zero barrels as the US enforces a blockade in the strait.