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U.S. Navy Escort Through Hormuz to Continue as Oil Traffic Recovers

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Citing Jin10, U.S. Energy Secretary Wright said on Sunday that Navy escort vessels are assisting tankers passing through the Strait of Hormuz and that the escort operation will continue into the foreseeable future.

Wright noted that the Navy views the protection of shipping as essential, that U.S. involvement is necessary, and that Iran continues to provoke trouble, but the Navy is prevailing in the effort.

He said the average daily oil flow through the Strait now exceeds 9 million barrels, and that the region’s transport of crude and refined products has recovered to two-thirds or more of its pre-crisis level as more routes and pipelines move supplies.

Last week, he cited that about 17 million barrels passed through on a Monday.

Wright also indicated that unleaded gasoline prices may ease as the summer driving season ends and federal blending policy adjustments increase supply.

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