12 Hrs
Source:
CNN Arabic
Iran's leverage wanes as oil flows through Hormuz
Reports indicate that the Strait of Hormuz remains one of the world's most vital oil passages, currently transporting about 13.1 million barrels per day, which is less than 80% of the pre-war level. Oil transfers are increasingly being carried out through covert routes with military protection. Gulf countries continuously send large quantities of oil to support global markets, despite Iran’s escalation of attacks on oil tankers. Meanwhile, the market relies on alternative solutions and military interventions to maintain oil flows amid ongoing tensions and concerns about the sustainability of the situation. The situation in the strait remains fragile, with potential escalation risks that could significantly raise oil prices if flows stop or if the conflict intensifies, especially given the market’s declining inventories and the depletion of current solutions.
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