Not sure why anyone would believe yet another Trump sycophant like Chris Wright.
He's just trying to "jawbone" crude prices lower.
It's obvious.
Just 84 total vessels transited the Strait of Hormuz last week
including only nine on Sunday, according to Kpler, an oil market data service that
uses satellite imagery and shipping transponders to provide up-to-date crude flow information. That's down from more than 100 transits a day before the war and not nearly enough to carry the 9 million barrels per day through the strait that Wright claims has been traveling through the waterway.
"It is not possible to reconcile the disparity between what we see and what he is quoting," said Matt Smith, director of commodity research at Kpler.
On Monday, a total of 6 vessels transited the strait: 4 inbound and 2 outbound, noted Andy Lipow, president of Lipow Oil Associates.
None of those ships were crude oil tankers. Oil is getting out of the strait but the number is closer to 4 million barrels per day, according to JPMorgan.