Six Million Barrels Move Through Hormuz; Major Oil Risk Remains
Supertanker traffic picked up in the Strait of Hormuz on Wednesday, with three ships carrying a total of 6 million barrels of Middle East crude leaving the Gulf en route to Asia after more than two months of waiting, according to shipping data from LSEG and Kpler. A fourth tanker was on its way into the strait, Reuters said. Small moves like this are still unusual. The U.S.-Israeli war on Iran, which started Feb. 28, has already reduced shipping through Hormuz. That route typically moves about one-fifth of the world’s oil and energy.