Commodities
Oil Shipments Rebound but Global Fuel Prices Remain High
Crude oil shipments through the Strait of Hormuz are nearing prewar levels, but global fuel prices remain high due to strain on the broader oil supply system.
Kpler estimates that nearly 12.5 million barrels per day moved through the strait in the week ending Sept. 27, about 1 million barrels below the prewar baseline.
Ship-tracking firm Windward estimates closer to 10 million barrels per day.
The increase is due in part to a U.S. Navy operation securing portions of the waterway, but flows remain volatile and dependent on costly military assistance and alternative shipping methods.