The latest: Amid continuous US strikes on Iran, Wright said that “a little under” 14M barrels of oil are leaving the Arabian Gulf region per day, or two-thirds of pre-war traffic…despite headlines that most of the traffic has halted. Wright claimed that the US is ensuring that oil and gas can flow through the strait “with or without Iranian cooperation.”
Yes, but: Iran’s Foreign Ministry spokesman, Esmail Baghaei, said that US talks “could be pursued based on national interests.” Meanwhile, oil prices could (yet again) exceed $100/barrel if Hormuz traffic doesn’t pick back up.
Molly Glick
Energy Central Team
Mon, Jul 20