Strait of Hormuz oil flow rebounds to 17 mbpd, reaching 85% of normal levels
Daily oil flows through the Strait of Hormuz rebounded from a May low of about 4 million barrels to 17 million barrels by June 20, equivalent to 85% of the roughly 20 million barrels per day seen in normal conditions. The U.S. Navy has maintained its presence and intercepted Iranian attack drones, with no reports in the past 24 hours of new attacks, mine-laying, or damage to transiting vessels. Commercial shipping has continued to pass through, undermining Iran’s deterrence and easing concerns about a global supply disruption. The shift has added downward pressure to crude prices.
