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Story summary
- Iran shut the Strait of Hormuz, cutting roughly 15 million barrels per day of oil flow.
- Saudi Arabia and the United Arab Emirates used spare pipeline capacity to keep exports flowing during the war’s first weeks.
- U.S. Central Command assisted 2,000 commercial ship transits and moved over 1 billion barrels of oil in recent months.
- Spot charter rates for Hormuz transits hit $1 million per day on Sept. 11, about $26 per barrel.
