U.S. military aided passage of 660 million barrels of oil through Hormuz since May

Key Points:

• Since early May, the U.S. military has helped transport over 660 million barrels of crude oil through the Strait of Hormuz, assisting about 1,300 commercial vessels to ensure multiple routes remain open for transit.
• Despite ongoing Iranian threats and attacks, substantial oil exports continue, though current shipments of around 7-10 million barrels per day remain below pre-war levels of about 20 million barrels per day.
• Estimates of daily oil exports vary, with U.S. officials suggesting up to 10 million bpd, while private firms like Windward report lower figures around 5 million bpd, highlighting difficulties in tracking due to covert ship movements and wartime conditions.
• The security situation in the strait is contested, with the U.S. controlling southern shipping lanes and Iran demanding vessels use northern routes, resulting in ongoing tensions and attacks on commercial ships, including fatalities.
• Despite risks, tanker operators and crews are incentivized by high pay, reflecting the high-stakes but profitable nature of oil transit through the strategically critical Strait of Hormuz.