White House · Strait of Hormuz · Iran · Donald Trump · Axios
The coming verdict on Trump's Strait of Hormuz argues
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The White House is at odds with some private sector analysts over how much oil is leaving the Strait of Hormuz, but it will take weeks until the picture of what's truly getting through becomes clear.
Key facts
- President Trump claimed yesterday that 18 million barrels per day are moving, saying via Truth Social that "Hormuz Volumes are BACK
- The 17 million barrels that Wright claimed may be plausible on a given day, analysts say, though what's most important is the multi-day average
- Eurasia Group analyst Gregory Brew says it appears more oil is indeed making it out
- The White House is at odds with some private sector analysts over how much oil is leaving the Strait of Hormuz, but it will take weeks until the picture of what's truly getting through becomes clear
Summary
How much oil exits the waterway sways the price of gasoline and other consumer products. The White House is claiming success in forcing open the world's most important energy chokepoint, which handled 20 million barrels of crude and oil products each day before the Iran war. President Trump claimed yesterday that 18 million barrels per day are moving, saying via Truth Social that "Hormuz Volumes are BACK." Energy Secretary Chris Wright told CNBC Tuesday that 17 million barrels of crude and products combined flowed on Monday, but he has also noted the multi-day rolling average is much lower.