This Monday in the Strait of Hormuz was either a great or terrible day for the global economy, depending on whom you ask.
Ship-tracking service Kpler reported that "traffic declined sharply," with just five ships crossing on Monday, the same day that the US and Iran exchanged fire for the first time in a month. The data platform documented a mix of official ships as well as shadow vessels using concealment tactics.
Yet the picture from the Trump administration couldn't have been more different, with Energy Secretary Chris Wright saying in a CNBC interview that over 17 million barrels of oil passed through the waterway on Monday. Wright called it a record since the beginning of the conflict.
Wright's figures are rooted in claims from the Trump administration that dozens of ships are being assisted by the US Navy each night, undetected by commercial shipping trackers. Kpler and others use satellite imagery and other tools to gauge traffic in the waterway that is about 21 miles wide at its narrowest point.
More here…
https://finance.yahoo.com/markets/article/divide-between-energy-trackers-and-the-white-house-deepens-over-how-much-oil-is-getting-through-the-strait-of-hormuz-180528082.html
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Mainecat ·
