The oil-shuttling service that has been crucial to getting cargoes out of the Strait of Hormuz has picked up again after a recent lull, helping millions of barrels escape as Middle East hostilities escalate.
The shuttling emerged at the height of the war and has been a lifeline for some producers. They use vessels to ferry supplies — often with transponders off to avoid detection — out of the Persian Gulf onto other ships outside the waterway, which then travel on to buyers around the world. While flows through Hormuz remain below pre-war levels, the barrels that have left have been key to alleviating some of the worst fears of an oil-price spike.
