The U.S. Energy Department reported that 8.5 million barrels of oil transited the Strait of Hormuz on Sunday with military assistance amid renewed fighting with Iran:
- Total flows out of the Middle East Gulf region are averaging 15 million barrels per day:
- Trump has reinstated a naval blockade:
Ship tracking firms noted a significant drop in traffic through Hormuz over the past week after Iranian attacks on commercial vessels sparked renewed fighting between Washington and Tehran:
Fourteen ships transited Hormuz on Sunday, four of which were crude oil tankers, a decline of about 60% compared to the 37 vessels that crossed the same day last week:
Trump also demanded that other ships crossing through pay the U.S. 20% of the value of their cargo as reimbursement for protection:
U.S. Central Command stated that Hormuz remains open and traffic is flowing through the strait:
