US Energy Secretary Chris Wright said on Monday that more than 17 million barrels of oil passed through the Strait of Hormuz, marking the highest daily flow since the conflict with Iran began disrupting energy shipments through the strategic waterway. The volume was recorded even as attacks on commercial vessels and mine threats have roiled traffic through the chokepoint that normally handles nearly one-fifth of global petroleum trade.
When flows through Saudi Arabia’s and the United Arab Emirates’ pipelines that bypass Hormuz were included, more oil left the region than under normal conditions before the war began, Wright told CNBC. The figure stands in contrast to weeks of reduced traffic driven by rising insurance costs and security threats that had previously slowed the movement of crude through the strait.
Tanker attacks escalate conflict
Tensions escalated sharply this week after two tankers carrying Saudi crude were struck while exiting the strait, prompting Washington to launch strikes on Iranian mine-laying capabilities and maritime assets around the waterway, according to energy officials monitoring the route. The attacks on the vessels marked the most serious incident in the shipping lane since the conflict began and triggered the first direct US military response against Iranian targets in the current crisis.
Tehran retaliated by targeting US bases in the region, raising concerns about further disruption to Gulf energy exports as Washington and Tehran exchange direct military blows for the first time in the current conflict. The exchanges have intensified fears that the waterway could face renewed blockages despite the recent recovery in daily flow volumes.
Markets react to supply risks
Oil prices surged more than 5 percent on Tuesday as traders priced in the heightened risks to supply routes, with international benchmark Brent crude trading near $94 per barrel. US benchmark West Texas Intermediate climbed to around $89, reflecting widespread market anxiety that sustained military clashes could choke the vital energy corridor and constrain global supply.
Before the war began, nearly 20 million barrels per day of crude oil and petroleum products moved through Hormuz, representing roughly one-quarter of global seaborne oil trade, according to the International Energy Agency. Monday’s figures remain below that pre-war baseline but nonetheless represent the strongest single-day flow since hostilities began disrupting commercial traffic through the region.
