The Strait of Hormuz Supply Shock

Despite the price dip, about a fifth of global oil flows remain disrupted by the effective closure of the Strait of Hormuz. The International Energy Agency has characterized the current situation as an unprecedented supply shock.

US Strategic Position

President Trump has reaffirmed that the US will maintain its naval blockade until a definitive nuclear agreement is reached. Meanwhile, US crude exports have hit record levels as global buyers seek alternatives to Persian Gulf supply.