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2026-09-16 16:18:08
[Oil Shipments Through the Strait of Hormuz Rise to Nearly 12 Million Barrels Per Day, But Still Less Than 60% of Pre-Conflict Levels] ⑴ Oil prices retreated somewhat on Wednesday, but Brent crude and West Texas Intermediate crude futures remained near four-month highs of $107.8 and $104.6 per barrel, respectively. ⑵ Commodity research firm Commodity Context's Rory Johnston stated that as of Sunday, the seven-day average of oil shipments through the Strait of Hormuz had risen to nearly 12 million barrels per day, undoubtedly the highest level since the recovery in June and July following the signing of the memorandum of understanding. ⑶ He noted that almost none of this was Iranian crude. Johnston added that this volume is still less than 60% of pre-conflict levels. ⑷ This indicates that there is still considerable room for recovery in strait shipping, while the conflict in Yemen and pipeline disruptions have added new risks to the already tight crude oil supply situation.
