The Strait of Hormuz Has Been Closed for 100 Days. Why Aren’t Oil Prices Higher?
Despite the Strait of Hormuz being effectively closed for over 100 days, global oil prices have not spiked as expected. Analysts suggest that a 'dark trade' of oil shipments, combined with alternative export routes, may be mitigating the impact of the blockade.
Why it matters
This challenges traditional economic assumptions about supply chain chokepoints and the transparency of global energy markets.
Photo Illustration: NADIA MÈNDEZ; GETTY IMAGES Comment Loader Save Story Save this story Comment Loader Save Story Save this story 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. The claim landed in an industry already consumed by the question of how much oil is actually getting out —and nobody, it turns out, can answer that with confidence.
The article explores market complexities and expert analysis without taking a partisan stance on the geopolitical conflict.
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