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Strait between the Persian Gulf and Gulf of Oman
The Strait of Hormuz is a waterway between the Persian Gulf and the Gulf of Oman. On the north coast lies Iran, and on the south coast lies the Musandam Peninsula under the Musandam Governorate of Oman, with a portion of the southwest of the peninsula under the United Arab Emirates (UAE). The strait is about 104 miles long, with a width varying from about 60 mi to 24 mi.
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It is unclear how long the recovery can be sustained given that it relies on the U.S. military protecting tankers in the Persian Gulf.
Alternative ways being used to move fuel out of Gulf region, but flows of refined products such as diesel still constrained
JP Morgan says Middle East crude exports recovered to 98% of pre-war levels in September at 17.5 million bpd, with Hormuz flows back to late-June highs, though estimates from Goldman Sachs, the U.S. Treasury, and TotalEnergies diverge sharply.