Shipping through Strait of Hormuz picks up, Bloomberg reports

Shipping traffic through the Strait of Hormuz has begun to increase despite the ongoing conflict in the Middle East, while the United States says some oil tankers are being escorted by US naval vessels, Bloomberg reported, citing vessel-tracking data and an interview with US Energy Secretary Chris Wright.

 “Despite the continuing hostilities in the Middle East, shipping through the Strait of Hormuz has picked up in recent days,” Bloomberg reported. In an interview with the news agency, Wright said oil exports have continued thanks to escorts provided by the US military.

According to Wright, around 6.5 million barrels of oil per day passed through the strait over the past week, with the United States helping to restore supplies of the commodity to global markets. 

According to analytics firm Kpler, 14 crude oil tankers transited the strait in both directions on July 29, compared with single-digit daily figures recorded during the previous week.