Goldman Sachs Reports Hormuz Oil Flows at Two-Thirds of Pre-War Levels
Oil flows through the Strait of Hormuz have recovered to about two-thirds of pre-war levels, according to Goldman Sachs analysts. This has limited the impact of the Iran war on global crude prices. Current exports are estimated between 15 million and 16 million barrels per day — still below pre-conflict volumes but significantly higher than a low point in March when flows dropped to around 5–6 million barrels daily. Goldman noted that increased use of 'dark crossings' by tankers, where ships turn off their satellite transponders for security reasons, is helping producers and shippers adapt. These practices are moderating upward pressure on crude oil prices despite ongoing disruptions in the Middle East. While crude exports remain strong enough to keep global oil prices stable — currently around $89 per barrel compared to over $120 earlier this year — flows of liquefied natural gas (LNG) and refined fuels have been more affected.
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Topics: crude oil prices Goldman Sachs Hormuz Strait Iran war impact oil flows