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Oil transit via Hormuz nears July high
The article concerns the state of navigation in the Strait of Hormuz, where oil flows are approaching their highest levels recorded in July, with Saudi oil exports significantly recovering to nearly pre-war levels in the region. Despite limited vessel movement, oil flows through the strait reach about 13 million barrels per day, with Iranian flows—previously around two million barrels per day—currently halted and replaced by recent shipments. Meanwhile, U.S. President Donald Trump rejects an Iranian proposal to reopen the strait, while Washington and Beijing affirm their rejection of imposing fees on maritime traffic in international passages. As a result of this situation, Saudi oil exports increased by 84% in September compared to August, supported by U.S. naval protection and the restoration of operations at its ports, highlighting the strait’s importance as a vital energy corridor for global markets.
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