Increase in Super Tankers Through Hormuz Strait Eases Oil Supply Concerns

Recent reports indicate a rise in the number of super tankers transporting non-sanctioned oil through the Strait of Hormuz, providing limited relief to the global oil market, which has experienced its largest supply disruption in history. According to Odaily, Bloomberg's compiled ship tracking data shows that since May 10, four tankers, each carrying approximately 2 million barrels of oil primarily from Iraq, have passed through the Strait of Hormuz. This equates to a transport rate of nearly 2 million barrels per day.