US officials say Hormuz oil flows reaching half of pre-war levels

What Happened

US Energy Secretary Chris Wright and Interior Secretary Doug Burgum stated on Friday that US naval escorts are moving substantial oil volumes through the Strait of Hormuz, reaching roughly half of pre-war levels. Wright told a Bloomberg briefing that protected vessels carry about seven million barrels per day, while Burgum told CNBC that as many as 20 ships per night are being escorted out of the strait. President Donald Trump had earlier claimed over 200 commercial ships and 100 million barrels had evaded Iran's blockade. The officials did not specify when the operation began. An Apache attack helicopter was reportedly shot down in the strait this week, which Iran downplayed. The US and Israel began military operations against Iran on 28 February, prompting Iran to disrupt Hormuz traffic. Brent crude has fallen roughly 20% over 30 days, trading at $87.17 on Friday amid signals of a nearing ceasefire.

Key Actors

Why It Matters

The Strait of Hormuz is a critical chokepoint for global oil transit. Iran's blockade threatened to spike energy prices and trigger economic disruption, especially for Asian importers. US escort operations, if sustained and tolerated by Iran, could restore flows and calm markets, as reflected in Brent's 20% decline. The operation's tacit acceptance may indicate progress in ceasefire talks, offering a pathway to de-escalation. Conversely, any disruption or miscommunication risks direct naval clashes.

Watch For

The nearing US-Iran ceasefire deal is the immediate focal point; its terms will determine whether the escorts continue or face renewed threats. Oil market reaction and shipping insurance costs will signal operational success. Investigate the status of the downed Apache and any Iranian naval posture changes. Monitor IAEA or diplomatic channels for parallel nuclear negotiations.