Crude oil tankers are trickling through the Strait of Hormuz despite Iranian threats and the U.S. Navy’s blockade, using a “shuttle” system orchestrated by Abu Dhabi and Kuwait that Tehran and Washington appear to be tolerating—at least for the moment.
“We’re not in raining oil, but oil is still coming out of the Gulf,” Lloyds List Senior Maritime Intelligence Analyst Tomer Raanan said during an Aug. 13 Lloyd’s List Intelligence weekly update on shipping traffic through the Strait of Hormuz and the Red Sea’s Bab el-Mandeb Strait.
“We’re still seeing this shuttle service, where ships load inside the Gulf, then they transit Hormuz, and they do ship-to-ship transfers in the Gulf of Oman.”…