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Iran Conflict 2026
24JUN

Four Hormuz figures that do not agree

2 min read
09:14UTC

Energy Secretary Chris Wright called 31 August a wartime record, with more than 17 million barrels crossing the strait by ship. Samir Madani of TankerTrackers.com put that day's Arabian Sea outflow at about 9.14 million.

ConflictDeveloping
Key takeaway

No vessel-level data sits behind any of the four official Hormuz throughput figures.

Energy Secretary Chris Wright told CNBC on Wednesday 2 September that more than 17 million barrels of oil crossed the strait of Hormuz by ship on Monday 31 August, which he called a record for the war 1. Samir Madani of TankerTrackers.com, an independent tanker-tracking service, put the volume exiting the Arabian Sea that day at about 9.14 million barrels, then 6.81 million on 1 September and 4.63 million on 2 September 2.

The two men may not be counting the same water. Wright counts ship transits of the strait itself, and separately adds 4 to 5 million barrels a day of Saudi and Emirati pipeline volume that bypasses it altogether. Madani counts cargo leaving the Arabian Sea, a wider gate much further out, which loses vessels running dark and gains cargoes that never crossed Hormuz at all. Neither published the vessel-level data that would let anyone else check, so the difference cannot be attributed to error rather than to method.

The American figures do not reconcile among themselves either. Two unnamed US officials gave Axios a corridor of about 10 million barrels a day on 19 August . CENTCOM's spokesman, Captain Tim Hawkins, put the escorted total at 660 million barrels since early May in a statement dated 20 August , implying roughly 6 to 7 million a day. Cooper's figure of about 750 million barrels on 28 August adds around 90 million barrels in eight days, or about 11 million a day 3. No source explains the acceleration, and no announced change in escort capacity accompanies it.

Commercial trackers could not agree on the count for a single day either, back when Kpler and S&P Global published transit totals that sat nowhere near each other , . Wright's record claim extends a documented problem rather than opening a new one. The traffic through this strait has been unauditable in every direction for three weeks, which leaves congressional oversight of the escort mission without an agreed denominator for the cost of a barrel escorted.

Deep Analysis

In plain English

Two officials gave different numbers for how much oil moved through the Strait of Hormuz on the same days, and neither published the underlying ship-by-ship data that would let anyone check. One figure counts oil that avoided the strait by pipeline instead of by ship. The two men may simply be counting different things, which matters to anyone trying to judge how much oil is actually still moving.

First Reported In

Update #175 · Iran says it re-mined the cleared lanes

The National· 3 Sept 2026
Read original
Different Perspectives
Shipping and insurance industry
Shipping and insurance industry
UKMTO counted about 20 US-facilitated Hormuz transits a day to 11 September against only 6 visible on AIS, with traffic still around 90% below the 138-a-day pre-war baseline. War-risk underwriters cannot price hulls they cannot see, or resolve whether the tanker El Gaia hit a mine, as Iran claims, or a missile and drone, as CENTCOM says.
European refiners
European refiners
European refiners, including Poland's Orlen, absorbed a roughly $26 gap between Dated Brent at $130.80 on 15 September and ICE Brent futures settling at $103.87 on 18 September, a spread that widened from $13.45 on 9 September rather than newly opening. Their futures hedges no longer cover what they now pay for physical barrels.
Saudi Arabia
Saudi Arabia
Saudi Aramco zeroed European term customers' October allocations and rerouted roughly 60 million barrels to Asia through Ras Tanura and Sohar, using Red Sea and Gulf terminal capacity built years ago to cut Hormuz exposure. Riyadh reallocated existing supply rather than negotiating a shortfall with Europe.
Qatar
Qatar
Qatar's energy minister Saad al-Kaabi told Bloomberg at the Qatar Economic Forum on 20 September that Bessent's two-year Hormuz-obsolescence forecast is wrong, and that Doha has deliberately built no bypass pipeline. Qatar's gas exports run through one waterway by choice, not oversight.
Iran (foreign ministry and Majlis)
Iran (foreign ministry and Majlis)
Iran's foreign ministry and 130 Majlis deputies moved toward NPT withdrawal this week, with lawmaker Hossein-Ali Haji Deligani filing a triple-urgency bill on 20 September that Speaker Qalibaf has not yet scheduled. Tehran treats treaty membership as leverage still on the table, not yet spent.
Russia and China
Russia and China
Moscow and Beijing vetoed the Panel of Experts' renewal, maintaining Resolution 2231 lapsed in October 2025 and the 2025 snapback was never validly triggered, so the sanctions architecture the Panel enforces has no current legal standing. Both governments frame the veto as upholding law, not shielding Tehran.