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Oil flow through Strait of Hormuz hits 12M barrels a day - defying increasing attacks from Iran
New York Post • • business
Key Points:
- More than 12 million barrels of oil have passed daily through the Strait of Hormuz this month, exceeding last month’s average despite increased attacks linked to Iran.
- Since September, over 9 million barrels daily have been transported under US military protection, even as October saw 26 vessel attacks, marking the most dangerous period for tanker traffic since the war began.
- A cargo ship sank recently after being hit by an unknown projectile, highlighting the ongoing risks, though sailors are reportedly earning significantly higher pay to navigate the hazardous route.
- Oil flow through the strait has shown volatility, with a sharp drop from nearly 23 million barrels last Thursday to about 2.3 million barrels midweek, reflecting the impact of intensified Iranian attacks.
- The instability in the region, combined with repeated attacks on Saudi energy infrastructure, has kept global oil prices elevated, with Brent crude remaining above $104 per barrel.
