Crude oil is once again moving through the Strait of Hormuz at rates approaching prewar levels. But the rebound in shipments is not delivering the sharp drop in oil, gasoline, and diesel prices consumers might expect.
Ship-tracking data shows a significant recovery in crude flows through Hormuz. According to The Washington Post, Kpler estimated that nearly 12.5 million barrels per day moved through the strait during the week ending September 27, about 1 million barrels below its prewar baseline. Windward, another ship-tracking platform, put the figure closer to 10 million barrels per day.
