Cooper says over 1 billion barrels moved through Hormuz as Iran ships none
Cooper points to a blockade halting Iranian crude exports even as more than 1 billion barrels have passed through the strait in recent months
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Map: The Gulf and Hormuz, marking Strait of Hormuz
Cooper reports that more than 1 billion barrels of crude have passed through the Strait of Hormuz in recent months, while Iran has shipped none, citing a blockade on its exports.
The strait has seen repeated attacks in recent weeks. Iran's Revolutionary Guard has said it fired at least five cruise missiles at ships passing through the corridor. Its navy has also said a Togo-flagged tanker, Trend, was struck and caught fire while crossing the strait. UKMTO has reported a separate tanker hit by an unknown projectile. Iranian official Ghalibaf has said the US military's fear of being hunted in the strait is now reality, after weeks of rising tension. Trump has said he will decide on military action against Iran while also pursuing talks.
Cooper's figures point to a blockade that is stopping Iranian crude from reaching the market, cutting off a source of supply that traders had been pricing in as risk. That is bearish for oil prices in the near term. But the volume still crossing Hormuz, more than 1 billion barrels, alongside continued missile and drone strikes, shows the corridor remains congested and exposed to further disruption. That keeps the risk of a price spike alive even as Iranian output stays blocked.