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🚨 Major improvement in Hormuz traffic
There is one consequential new development since the last update.
Reported by a U.S. official, but not independently verified: About 60 commercial vessels crossed the Strait of Hormuz on Wednesday, September 23, carrying roughly 22 million barrels of oil out of the Gulf. The official told Reuters this was the largest daily crude volume through Hormuz since early July. Roughly 40 of the ships reportedly coordinated with U.S. forces for protection. Reuters explicitly says it could not independently verify those figures. �
The Times of Israel +1
That is a dramatic change from Monday, when preliminary tracking showed only two commodity vessels making the crossing. �
Reuters
Why it matters: If this level of traffic proves sustainable, it would represent a substantial restoration of Gulf oil flows even before Washington and Tehran reach an agreement. Before the war, roughly 125 large commercial vessels normally crossed Hormuz each day, so traffic is not back...