Stealth Shipments Help Ease Oil Supply Disruption, Lowering Prices
Bloomberg • • nation
Key Points:
- Over the weekend off the coast of Oman, 16 tankers gathered to transfer millions of barrels of oil stranded in the Persian Gulf, marking a significant increase from a completely empty area a month ago.
- A growing number of tankers are turning off their transponders to facilitate oil flows through the Strait of Hormuz, boosting shipments from a trickle to a steady stream.
- Despite conventional vessel-tracking data showing little change, insights from senior shipping executives, Asian oil buyers, and satellite images indicate that oil transit through Hormuz has become more consistent and increased in volume.