- Hormuz oil exports exceeded 17 million barrels per day on Monday, according to U.S. Energy Secretary Chris Wright.
- Total regional exports exceeded prewar levels when pipelines bypassing Hormuz were included, while roughly 20 million barrels per day had moved through the strait before the war.
- The U.S. military is escorting tankers through a shipping corridor along Oman's coast, but at least two tankers were attacked in the strait this week.
- U.S. crude oil fell about 1% on Wednesday as military strikes resumed between Washington and Tehran.
Quotes
“More than 17 million barrels of oil transited the Strait of Hormuz by ship on Monday, a record since the Iran war began in late February”
“causing some disruption but they are losing that card”
“With or without Iran, oil and gas will flow out of the Arabian Gulf region and it's happening”