Key facts
- Tanker traffic through the Strait of Hormuz has fallen by 90% to 95% compared to pre-war levels.
- Remaining oil cargoes move under increasingly opaque conditions.
- U.S. commercial oil inventories are approaching critically low levels.
- The duration of the ongoing war is a significant factor influencing future supply.
- U.S. exports of goods and services increased in April.
- U.S. oil and petroleum product sales surged in April due to Strait of Hormuz disruptions.
- The surge in oil exports led to a decrease in the overall trade deficit.
- President Donald Trump announced a deal with Iran is set to be signed.
- The announced deal is expected to immediately reopen the Strait of Hormuz to all traffic.
- Gas prices have seen a slight decrease 14 weeks into the conflict.
- President Trump visited Wisconsin and assured farmers of an impending economic rebound.
Tanker traffic through the Strait of Hormuz has decreased by 90% to 95% compared to pre-war levels. The remaining oil cargoes are moving under increasingly opaque conditions, which complicates the tracking of global energy flows and obscures supply visibility. U.S. commercial oil inventories are approaching critically low levels as the conflict with Iran continues without a clear resolution. The duration of the ongoing war is a significant factor influencing future supply. Despite these disruptions, U.S. exports of goods and services increased in April, driven by a surge in oil and petroleum product sales. This surge in exports, attributed to blockades in the Strait of Hormuz, led to a decrease in the overall trade deficit. President Donald Trump announced that a deal with Iran is set to be signed, stating that this agreement would immediately reopen the Strait of Hormuz to all traffic. This announcement follows a period of low vessel traffic and U.S. efforts to escort tankers through the vital waterway. Gas prices have experienced a slight decrease 14 weeks into the ongoing conflict involving Iran. This development coincides with President Trump's visit to Wisconsin, where he assured farmers of an impending economic rebound.