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Gulf oil producers, with considerable support from the US Navy, are jamming crude through the Strait of Hormuz, right under Iran’s nose. Oil and petroleum product flows through the critical chokepoint averaged 13.1 million barrels per day last week, according to Kpler, a marine data tracking service.
That’s just under 80% of the 17.1 million barrels that had traveled through the strait each day before the war broke out. “Given such a strong volume passing through the strait, it is clear Iran is losing its influence over it,” said Matt Smith, director of commodity research at Kpler.
CNN takes a look what recent developments in the Strait mean for the war and check in on where talks between the US and Iran stand.
0:00 Oil through Strait of Hormuz near pre-war levels
4:34 Goldman on what it means for the markets
6:47 Update on US-Iran talks
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<br> The IRGC published a 25-to-26-page open letter addressed to the American public, scholars, and media.
<br>The text calls on U.S. voters to use the ballot box to reject current political leadership, stop U.S. military support for Israel, and end foreign military interventions.
<br>IRGC spokesperson Hossein Mohebbi criticized President Trump's policies, accusing the administration of concealing the nature of Iran's nuclear program and driving conflict.
<br>While the letter targets Trump and his congressional allies, reports and political analysts note it is part of Iranian state messaging aimed at shifting U.S. public opinion with an explicit endorsement of the Democratic Party.
<br>Happy days are here again. The democrat party just got endorsed by the world leader in state sponsors of terrorism.