These figures follow a period of volatility where total oil transit through the Strait of Hormuz averaged 12 to 13 million barrels per day over the last two weeks, down from a September 24 peak of 16.2 million barrels per day. The decline to a two-month low in waterway traffic resulted from shipping attacks by Iran, forcing logistics firms to adapt to higher freight rates.
Tuesday, October 20, 2026
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US Energy Secretary Reports Gulf Refined Flows at 25-30% of Pre-War Levels
Commodities9 days ago
Middle East crude shipments excluding Iran have recovered to 80-90% of pre-war volumes, which US Energy Secretary Chris Wright said maintains a reasonable price for energy markets. However, shipments of refined products from the Persian Gulf remain severely diminished, having only reached 25-30% of their pre-war levels. Wright noted that while the crude recovery is viable, it does not make the US government comfortable with the current regional stability.
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