Covert Mideast oil flows are keeping global prices in check
The trade of ferrying oil through the Strait of Hormuz undetected to tankers in the Gulf of Oman is running at full tilt, despite recent attacks on vessels.
Middle Eastern oil producers are continuing to transport substantial quantities of crude oil through the Persian Gulf, despite the ongoing Iran war. This activity is helping to maintain stable oil prices and alleviate concerns of a potential energy-induced inflation surge, according to sources familiar with the operations. The covert transportation of crude oil through the Strait of Hormuz into the Gulf of Oman continues unabated, even as vessels have faced various attacks in recent times.
The under-the-radar transit of oil through this crucial energy passageway has become a critical lifeline for global markets, which had anticipated much more significant supply disruptions following the outbreak of the Iran conflict. However, the situation for oil producers in the region is far from ordinary, as their ships are frequently subjected to hostile actions, notwithstanding the limited military protection provided.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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