US Energy Secretary Chris Wright announced on Wednesday that approximately 20 million barrels of crude oil had exited the Strait of Hormuz in the preceding 24 hours via 72 ships. Speaking at the Reuters Global Energy Forum in New York, Wright stated that Washington would guarantee the flow of oil through the strategic waterway even in the absence of a formal agreement with Iran.
Current Flow Levels and Iran's Diminished Leverage
“We have normal flows today,” Wright said, noting that the volume is comparable to recent flow levels following an initial US-Iran agreement to end the conflict. He emphasized that Iran would no longer be able to close the Strait of Hormuz. “Iran will not have the ability to close the Strait of Hormuz going forward. That's a critical thing, that's their key leverage, and we're taking that leverage away from them,” he added, describing Iran's military as depleted.
Navigation Patterns and Mine Risks
Wright explained that many vessels exiting the strait are avoiding the main shipping channel due to mine-related risks. Instead, they are passing close to the Iranian coast or along the southern route near Oman under military escort. The number of ships remains lower than usual, but many vessels are larger, helping maintain total crude flows near pre-war levels. A full return to normal navigation could still take weeks, according to Wright, as mine-clearing efforts are necessary in the strait.
Recovery Signs and Oil Price Impact
Tanker movements through the Strait of Hormuz have shown signs of recovery following the interim US-Iran peace agreement, easing concerns about potential supply disruptions from the Persian Gulf. Recent maritime data indicated that commercial and energy-linked vessel traffic through the strait remained active, while more tankers entered the Persian Gulf to pick up cargoes as exporters sought to restore flows. Oil prices have fallen this week as improved traffic through the strait reduced the geopolitical risk premium that had supported crude during the conflict.
Strategic Importance of the Strait
The Strait of Hormuz is one of the world’s most critical oil chokepoints, with crude and liquefied natural gas exports from Gulf producers passing through the narrow waterway. The US assurance of continued flow underscores the global importance of maintaining stability in the region.
