Middle East oil returns, does that mean that Iran has lost control of Hormuz?
When the US-Iran war began at the end of February, it unleashed an energy crisis on the world and one not seen in recent years. Oil shipments through the Strait of Hormuz, de facto controlled by Iran, came to a standstill, crude oil prices shot up, and the world was left grappling with a supply crunch.The US war with Iran exposed Tehran’s ability to disrupt the global economy by blocking the Strait of Hormuz. Before the war, around 19 million barrels of crude oil were exported daily from the Middle East.However, September data from tanker-tracking firm Kpler showed oil flows recovering to an average of 16 million barrels per day, the highest since the conflict began.Of this, around 10 million barrels passed through the Strait of Hormuz, while another 6 million barrels moved through pipelines and ports on the Red Sea and Gulf of Oman that bypass the strait.But a…
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