Hormuz Traffic Running 80% Below Its 10-Day Average
Only three commodity vessels moved through the Strait of Hormuz in the past day, preliminary tanker-tracking data by Kpler showed on Wednesday, as the oil market weighs the potential resumption of U.S.-Iran talks against continued disruptions in the Middle East. The three commodity vessels, which in
Source: OilPrice.com
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DW NOTE
The Strait of Hormuz carried 21 million barrels a day before the ceasefire collapsed in August. An 80% drop means roughly 17 million barrels aren't moving — yet Brent fell 16% this week to $99.71. Either demand destruction is happening faster than the supply shock, or traders are pricing in a reopening no one has announced.