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Oil Glut? Hormuz Traffic Hype | Business and Finance News

Oil Glut? Hormuz Traffic Hype | Business and Finance News

Published 19 hours ago
Description

Oil prices are crashing as analysts predict a surplus fueled by rising tanker traffic through the Strait of Hormuz — but the real story’s more complicated. Many tankers were stuck for months, not newly arriving, and alternative routes like the Red Sea and pipelines are being used. Iraq’s output remains far below pre-war levels, shipping costs are through the roof, and U.S. oil — while record-breaking in volume — doesn’t match global refinery needs. Before declaring a glut, we should wait to see if Hormuz truly returns to pre-war flow.

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