US energy chief says no 'magic' behind Hormuz crossing claims

Energy Secretary Chris Wright defended the Trump administration's claims that millions of barrels of crude oil have been crossing the Strait of Hormuz, despite shipping traffic data suggesting otherwise. According to Wright, the average daily oil flow through the southern route is nine million barrels, with an additional five million through pipeline routes.

He also stated that "just under" 18 million barrels passed through the strait early last week. Wright's claims contradict recent figures from Kpler, which showed only four vessels transiting the strait on Thursday, and the IMF's PortWatch monitor, which reported a seven-day moving average of four crossings in the week ending August 30.

Wright attributed the decrease in traffic to the US and Israel's coordinated strikes against Iran in February, which led to retaliatory attacks on key energy sites across the Gulf and within the strait. The US has since imposed a naval blockade to halt the flow of Iranian crude, redirecting 92 commercial vessels, disabling three, and boarding two as part of the effort.

Wright emphasized that the blockade's mission is twofold: preventing the flow of Iranian crude while ensuring the flow of traffic through the strait. Iran has warned of "faster, heavier, and more painful" retaliation if the US continues its attacks, acknowledging the economic pressure the country is under, with the rial losing more than 60% of its value since March and inflation remaining above 80%.

The US is expected to target another Iran-linked bank this week, expanding its campaign to sever the regime's financial lifelines.