Gulf storage falls as 710,000 bpd transit Strait of Hormuz
Business
After months of near-total closure, oil tankers are slowly making their way through the Strait of Hormuz.
This pause had stranded millions of barrels every day and forced production cuts, but now, storage levels in the Gulf are dropping as more oil starts flowing out, up to 710,000 barrels per day in May, according to ROI analysis.
By May 65% turned off tracking
To avoid detection and stay safer, about 65% of outbound tankers turned off their tracking systems by May — a move known as "dark" mode.
Many are using secret routes near Oman or Iranian corridors with potential US naval support.
This covert approach makes it tough to track shipments and has reduced visibility into pricing signals.