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Gulf oil producers are finding new ways around the Strait of Hormuz, but bypassing the world’s biggest oil chokepoint creates new risks. VLCC Rates Go Ballistic as Hormuz Turns Into a Freight Jackpot - VLCC prices are ballooning out of control (once ...

India, Aug. 20 -- The Strait of Hormuz is seeing signs of limited oil traffic despite the continuing US-Iran conflict, with President Donald Trump saying a large number of vessels crossed the strategic waterway overnight.

Only five ships made it through the key waterway during the weekend, according to the latest data from intelligence firm Kpler.

In the week starting August 17, the market is expected to remain consolidative and range-bound, with the focus primarily on developments surrounding the Strait of Hormuz, the direction of oil prices,

The Trump administration says oil is moving through the Strait of Hormuz, promising that gas prices will head down. Democrats, meanwhile, say the conflict with Iran is taking a big toll on the U.S.

Oil prices continued to edge lower Friday even after the US warned that its blockade of Iranian ports could remain in place for an extended period and two United Arab Emirates tankers were attacked by drones while transiting the Strait of Hormuz Thursday evening.

Oil markets remain torn between hopes for a U.S.-Iran deal and worsening physical supply constraints, with Hormuz traffic at two-month lows and inventories steadily declining. Refined products are facing the biggest squeeze, as diesel, gasoil and jet fuel ...