Another analyst puts the current seven-day average at 9.4 million bpd, down from 11.3 million bpd a week ago, while HFI Research projects flows could fall to 6-7 million bpd over the next 10 days. US Energy Secretary Chris Wright stated that crude flows from the Middle East, excluding Iran, have recovered to 80-90% of pre-war levels, though refined product shipments remain at 25-30%. Market traders currently view the disruptions as transitory with no material panic in the physical market.
Tuesday, October 20, 2026
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Iran Hits 24 Ships in Hormuz for Most Intense Strike Wave of War
Commodities7 days ago
Oil transits through the Strait of Hormuz dropped to 2.9 million barrels on Oct. 11, the lowest volume recorded this month. Seven-day average flows are approximately 43% below pre-conflict levels after Iran struck 24 vessels in the past two weeks, the most aggressive period of attacks since the war began. Shipowners have begun avoiding the region due to these risks, with several vessels turning away from Fujairah despite high freight rates.
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