Gulf Oil Exports Struggle to Recover Despite Higher Hormuz Traffic
Shipping traffic through the Strait of Hormuz slightly increased as US-Iran negotiations remained ongoing in an effort to restore peace after the memorandum of understanding collapsed amid two weeks of tit-for-tat strikes, according to Pakistan's Foreign Ministry spokesperson Tahir Andrabi, who prov
Source: OilPrice.com
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DW NOTE
The Strait of Hormuz carried 21 million barrels per day before the Israel-Iran exchange in April. Traffic has since recovered — but Gulf export volumes have not, which means the ships are sailing lighter or in ballast. This is what happens when buyers pre-emptively reroute supply chains: once the security premium fades, the structural shift remains.