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Most recently updated firstOct16
Hormuz Disrupted: The Closure, the Reopening That Did Not Hold, and $114 Oil
War that began on 28 February disrupted oil and LNG trade through the Strait of Hormuz, and Iran closed the strait on 2 March. A 18 June US-Iran memorandum of understanding led to increased shipping and lower July price forecasts, but attacks on shipping, a renewed US blockade of Iranian ports, insurance-related sanctions, and constrained transits undermined that recovery.
Oct14
Around the Strait: The Pipelines Gulf Oil Uses When Hormuz Is Shut
Most Gulf oil normally crosses the Strait of Hormuz, while the IEA estimated in February that only 3.5 million to 5.5 million barrels per day could initially bypass it, chiefly through Saudi Arabia’s East-West Pipeline to Yanbu and the UAE’s Habshan-Fujairah pipeline. The usable capacity is uncertain because design ratings, operator claims and reported flows differ: Aramco says Petroline reached 7.0 million b/d, while Saudi Arabia later said flows had recovered to 5.8 million b/d after a September attack, and the IEA estimated total bypass exports at 5.6 million b/d in October.
