Oil flows through the Strait of Hormuz currently average nearly 13 million barrels per day, according to US Energy Secretary Chris Wright, who noted that volumes peaked above 20 million barrels in a single day last week. Wright told Fox News that energy price pressures are stemming primarily from limited refining capacity rather than issues with oil flow. Crude oil prices have climbed above $100 per barrel, though this is partially masked by record crack spreads and refining shortages that are capturing more of the price increase than the producers.

Data from Kpler indicates seven day averages of 13 million to 14 million barrels per day, still below the roughly 17 million barrels per day seen before the Iran war began. While Iranian exports through the strait are currently at zero, Saudi Arabia's recent loading activities have driven the rebound. Transit costs for Gulf barrels remain high at $30 to $40 per barrel, excluding US military support, though producers in Iraq and Kuwait continue to ship as long as prices exceed cash costs.