Oil shipments through Strait of Hormuz expected to rise — US
US Energy Secretary Chris Wright forecasts that the volume of oil transported through the Strait of Hormuz will increase in the coming weeks, TASS reports.
"We are today up to a 10 million barrel per day average of oil and oil products going on water through the Strait [of Hormuz]. You will see that number grow in the coming weeks," he stated at a press conference at the International Atomic Energy Agency (IAEA) headquarters in Vienna.
The US and Israel's conflict with Iran began on February 28. In June, Washington and Tehran signed a memorandum of understanding providing for an immediate cessation of hostilities on all fronts, including in Lebanon.
However, on the night of July 8, the US resumed large-scale strikes against Iran, accusing it of violating the terms of the agreements reached regarding the Strait of Hormuz, through which approximately 25% of global oil trade and about 20% of liquefied natural gas (LNG) trade pass.
Subsequently, the US administration effectively signaled an end to the use of large-scale military force against Iran, shifting toward an attempt to economically strangle the country through sanctions.
Earlier, Qazinform News Agency reported that Iran would establish a restricted zone outside the Strait of Hormuz, covering waters beyond the Persian Gulf and the Oman Sea.
