Benchmarks
Nifty24,252.0020.16

FEATURED FUNDS★★★★★

Motilal Oswal Midcap Fund Direct-Growth

5Y Return
24.08 %

Invest Now

Enter search text:

Business News›News›International›World News›US military moves 15 million barrels through Hormuz amid standoff with Iran

Read Today's Paper

US military moves 15 million barrels through Hormuz amid standoff with Iran

Synopsis

Over fifteen million barrels of oil moved through the Strait of Hormuz with US military assistance. Total shipments leaving the region, including pipeline volumes, neared twenty million barrels. Diplomatic efforts to resolve the confrontation between Washington and Tehran remain stalled. Oil markets remain on edge due to concerns about sustained flows and potential escalation. The key question is whether these flows can continue without ongoing military intervention.

AP

New Delhi: More than 15 million barrels of oil and petroleum products were moved through the Strait of Hormuz with help from the US military on Tuesday, with total shipments leaving the region, including volumes transported through pipelines, approaching 20 million barrels, US Energy Secretary Chris Wright said on Saturday, highlighting Washington's efforts to keep energy supplies moving despite the continuing standoff with Iran.



Also Read: Iran says it has built ‘solid defensive shield’ amid US tensions



In a post on X, Wright said the seven-day average of oil leaving the Strait had risen above 8 million barrels a day, and credited the US Navy with maintaining the flow. "Make no mistake, thanks to the U.S. Navy, oil is flowing through the Strait of Hormuz," he said.

— SecretaryWright (@SecretaryWright)

The latest US claims come as diplomatic efforts to resolve the confrontation remain stalled. Washington and Tehran have been unable to reach a durable agreement on the conditions for restoring normal shipping and easing economic pressure on Iran.



Tehran has maintained that it wants an agreement but has rejected terms it considers unacceptable, while the Trump administration has shifted towards increasing economic pressure, including the threat of tougher sanctions.




The uncertainty has kept oil markets on edge. Brent crude ended the week at around $94.39 a barrel, gaining 6.6 per cent over the week, while WTI settled at $87.06.

The price rally comes despite evidence that more oil is finding a route out of the Gulf. Traders remain concerned that current flows depend heavily on military support and could be vulnerable to renewed escalation.

(You can now subscribe to our WhatsApp channel)

(You can now subscribe to our WhatsApp channel)


Read More News on
Strait of HormuzUS military oil shipmentsIran standoffoil marketBrent crude pricesWTI crude oiloil supplieseconomic pressure on IranUS Navy controlUS Department of Energy

Enter search text:

Stories you might be interested in