Global Oil Flows Plunge as Hormuz Disruption Chokes Tanker Trade

Global seaborne crude oil shipments have fallen 16% since the start of the Iran war, according to the BIMCO, highlighting the scale of disruption rippling through energy and tanker markets as traffic through the Strait of Hormuz remains severely constrained.

“This represents a reduction of 7.6 million barrels per day… to 38.4 mbpd,” said BIMCO Chief Shipping Analyst Niels Rasmussen, noting that flows over the past six weeks have likewise remained 16% below last year’s levels.

That drop means roughly 9.5% of expected global crude production is currently not reaching markets, based on earlier projections from the U.S. Energy Information Administration prior to