Despite ongoing attacks in the Strait of Hormuz, oil tankers are continuing to move crude through the waterway, with some conducting ship-to-ship transfers and using routes along Oman’s coast.
These operations are helping maintain global oil supplies and limit price increases, with at least four supertankers carrying roughly 8 million barrels of crude recently emerging from Hormuz. However, the route remains highly risky, with numerous vessels attacked, limited shipowner participation and tanker rates surging to nearly $500,000 per day. Bloomberg has the full story.
