{
  "id": 11278581,
  "title": "Crude oil exports through the Strait of Hormuz hit prewar levels, but fuel shipments remain constrained",
  "url": "https://urgent.news/2026/10/01/crude-oil-exports-through-the-strait-of-hormuz-hit-prewar-levels-but",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T21:00:55.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/crude-oil-exports-through-the-strait-of-hormuz-hit-prewar-levels-but-fuel-shipments-remain-constrained/"
  },
  "original_language": "en",
  "account": "Crude oil exports through the Strait of Hormuz have returned to levels similar to those before the Iran war, thanks to increased U.S. military escorts and rerouted pipeline flows. As of Monday, crude shipments through Hormuz averaged 13.5 million barrels per day, matching a prewar benchmark, according to Kpler data. Iran has claimed control over Hormuz and declared the strait closed multiple times, but it is losing influence as large volumes pass through the strait, said Matt Smith, Kpler's director of commodity research. The region's crude oil shipments, including the Persian Gulf and Red Sea, have been higher than prewar levels, with a seven-day average of 19.5 million barrels per day as of Monday. However, the recovery is uneven, with refined product supplies still constrained, said Natasha Kaneva, head of global commodities strategy at JPMorgan. The world is facing a fuel crisis as refined product supplies from the Middle East are limited, and Ukraine is damaging Russian refineries. Refined products shipped through Hormuz are at a seven-day average of 677,000 barrels per day, compared to 3.6 million barrels per day before the war, Kpler data showed. Together, crude and product shipments averaged 14.2 million barrels per day, representing about 80% of the prewar Hormuz baseline. The global fuel supply shortage has led to record-high diesel prices in the U.S., posing a significant threat to the economy. President Trump is considering an export ban amid political pressure from Republican lawmakers ahead of the midterm elections. Iran's crude oil exports have plummeted as the U.S. Navy blocks the Islamic Republic, while Iran exports themselves are close to zero. The U.S. has ramped up its sanctions campaign, and Treasury Secretary Scott Bessent stated that Iran will have nothing left to trade for by about two weeks. Iran has proposed reopening Hormuz in seven days if the U.S. returns to the June memorandum of understanding. However, the U.S. has rejected the offer and hinted at resuming bombing of Iran after the midterms. The Gulf has adapted by diverting more than 70% of its crude oil exports through shuttles and pipelines, but the security conditions in the strait remain tense due to Iran's attacks on tankers.",
  "summary": "Crude oil exports from the Strait of Hormuz have basically returned to levels normal before the Iran war, as U.S. military escorts have boosted shipments and pipelines have redirected flows. Crude transiting Hormuz reached a seven-day average of 13.5 million barrels per day as of Monday, which matches a prewar baseline for shipments through the ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}