Oil Rally Stalls Amid Hormuz Strait Focus

For Oil Markets, the Strait of Hormuz Isn’t Closed Says Blas

US Energy Secretary Chris Wright claims that almost 9 million barrels a day had crossed Hormuz during the previous week, which is significantly higher than most tanker trackers' estimates. The oil market is skeptical of Wright's estimate, with many trackers pegging recent Hormuz flows at around 4 million to 5 million barrels a day. Bloomberg Opinion columnist, Javier Blas joined Bloomberg Intelligence to discuss. (Source: Bloomberg)