Donald Trump · Strait of Hormuz · Canada · Wired
Last week, President Donald Trump claimed a secret US mission had moved 100 million barrels of oil through the Strait
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“No one’s experienced this kind of disruption,” said Matt Stanley, head of market engagement at Kpler, the commodity intelligence and ship-tracking firm.
Key facts
- World Trade Organization data shows a 95 percent reduction in crude oil shipments from Arabian Gulf ports and a 99 percent reduction in liquified natural gas carriers
- Global oil supply fell 10.1 million barrels per day in March, with OPEC+ production dropping by 9.4 million barrels per day month-on-month
- Last week, President Donald Trump claimed a secret US mission had moved 100 million barrels of oil through the Strait of Hormuz while it was blockaded — They were buying 12.5 million barrels a day in December.” The US, Brazil, and Canada have also stepped in to fill part of the void
Summary
Last week, President Donald Trump claimed a secret US mission had moved 100 million barrels of oil through the Strait of Hormuz while it was blockaded. There are ways to detect portions of outgoing oil anyway. One oil market analyst noted that their team has seen Upper Zakum crude oil appear in other markets. Stanley says it’s possible that 100 million barrels made it through the Strait of Hormuz since the first of May. The world’s most important oil chokepoint has been effectively shut for more than 100 days.