Hormuz Traffic Soars to Six-Month High Amid Ongoing Oil Price Premium
Dubai's Hormuz Traffic Hits Six-Month High Despite Brent Oil Price Premium
The U.S. Central Command (CENTCOM) announced that its forces supported over 2,000 commercial transits carrying more than 1 billion crude barrels through the Strait of Hormuz in roughly two months.
This milestone marks a significant improvement in military protection and mine clearance, allowing for sustained six-month-high passage through the crucial waterway.
According to CENTCOM, oil, LNG, and cargo volumes during the latest two weeks reached their highest level in six months, with one billion barrels over about 60 days equating to roughly 16.7 million barrels daily, approximately 80% of the 20.9 million-barrel 2025 baseline.
Brent oil prices continue to carry a premium, settling at $103.87 on Friday, almost $14 above JPMorgan's September fair-value estimate.