One Turn
US says it helped Gulf states ship 1.5 billion barrels through Hormuz
US Central Command said American forces have helped Gulf states export more than 1.5 billion barrels of crude through the Strait of Hormuz since summer. It said the shipments bypassed an Iranian blockade. Iran's foreign minister Abbas Araghchi said shipping in the strait would not return to prewar conditions.
Why it matters
Much of the world's oil passes through the strait, so its security affects fuel prices everywhere.
Background
The Strait of Hormuz links the Persian Gulf to open ocean. Iran has sought to block traffic there during its war with the United States and Israel.
The story so far
- Iraq's October oil exports near pre-war levels at 3.4m barrels a day
- Brent crude tops $113, highest level since May
- Brent crude briefly passes $117 on fears of renewed Iran strikes
- US says it helped Gulf states ship 1.5 billion barrels through Hormuz
- Oil stays above $100; diesel tight
- Oil swings on Iran news; Brent above $104
- Oil falls for the week on hopes of US-Iran deal
- Iraq says it can export oil through Hormuz
- UAE oil exports back to pre-war levels via Fujairah
Sources
- Middle East Eye ↗Oct 25, 4:26 PM ET
- Folha de S.Paulo ↗Oct 25, 2:09 PM ET
This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.