New Estimates Challenge Assumptions About Lost Gulf Oil Supply

In the immediate aftermath of the U.S. and Israeli strikes on Iran that prompted the latter to shut down the Strait of Hormuz, most reports dealt with numbers—numbers showing the amount of oil supply lost due to the closure. Those numbers varied by source, but were all above 10 million barrels daily. Now, traders are saying the loss in supply may be much smaller. “After an initial disruption at the onset of the conflict, flows strengthened as alternative logistics scaled up,” analytics provider Kpler explained, as quoted by Reuters,…