Oil Flows Through Hormuz Despite Iran's Attacks; 'Dark Fleet' Emerges
Despite Iran's attacks on ships and Washington's blockade, around 10-17 million barrels of oil per day are still passing through the Strait of Hormuz. An 'Arab dark fleet' of over 100 tankers operating without Automatic Identification System (AIS) is shuttling oil from Gulf ports into the Gulf of Oman, transferring cargo at sea to other tankers. This adaptation is working but at extraordinary cost, with tanker rates rising from around $50,000/day to over $1 million/day. Meanwhile, Iran's own major crude exports have effectively collapsed.14 sourcesSee all sources