Oil's Brief Respite from Conflict: A False Sense of Security? The Memorandum of Understanding (MoU) between the US and Iran has expired, plunging oil markets into uncertainty.
Recent data from Kpler shows that oil flows through the Strait of Hormuz nearly tripled during the 60 day window covered by the MoU, averaging 6. 1 million barrels per day.
This increase is significant, but it's essential to put these numbers into perspective. The Gulf has seen consistently low oil exports since the US Iran conflict escalated in February.