Iran sends millions of barrels to China through Strait of Hormuz even as war chokes the waterway

Iran has shipped at least 11.7 million barrels of crude oil through the waterway to China since the war began, per TankerTrackers. Tehran's threats to attack any vessel transiting the route have led many ships to 'go dark', raising the risk of disruptions to seaborne crude flows and potential risk premia for energy prices and shipping rates. This increases geopolitical downside risk for energy markets and supply chains linked to the corridor.

Analysis

Iran has shipped at least 11.7 million barrels of crude oil through the waterway to China since the war began, per TankerTrackers. Tehran's threats to attack any vessel transiting the route have led many ships to 'go dark', raising the risk of disruptions to seaborne crude flows and potential risk premia for energy prices and shipping rates. This increases geopolitical downside risk for energy markets and supply chains linked to the corridor.