Oil Market Flying Blind as Dark Tanker Traffic Surges in Hormuz

AI Summary

Tanker traffic through the Strait of Hormuz has dramatically decreased by 90-95% compared to pre-war levels, complicating the tracking of oil and gas flows in this critical chokepoint. Despite the collapse, recent weeks have seen a surge in dark tanker movement, creating opaque conditions in the oil market.

Tanker traffic through the Strait of Hormuz has collapsed by 90% to 95% compared to pre-war levels, analysts concur. Some oil cargoes continue to trickle through the critical chokepoint, but under increasingly opaque operating conditions, complicating the tracking of oil and gas flows and obscuring the visibility of how much energy supply actually reaches buyers these days. Traffic appears to have ramped up in recent weeks, according to an analysis of shipping data by Reuters energy columnist Ron Bousso. More vessels are leaving the region after…