Record oil flowed through the Strait of Hormuz on Monday, Wright tells CNBC
More than 17 million barrels moved through the strait on Monday, Wright told CNBC, surpassing pre-war levels when bypass pipelines are counted
- Why it matters
- The Strait of Hormuz handles roughly one-third of global oil traded by sea; record flow through it indicates sustained energy supply to markets despite regional tensions.
- Most affected
- Oil importers globally — Access to one-third of seaborne oil supply remains uninterrupted at record volumes.
- Likely next
- Whether the Hormuz strait maintains this traffic level in coming weeks or whether regional conditions alter flow rates.
Also reported by: CNBC