Despite Iran stepping up attacks on tankers in the Strait of Hormuz, the flow of oil from the region is actually above prewar levels as Persian Gulf states hold off on crossing certain red lines—for now.
According to tracking firm Kpler, shipments via the strait and alternate routes averaged more than 24 million barrels a day last week, topping the average of 23.3 million before the U.S. and Israel launched the war in late February.
