More than 17 million barrels of oil and gas products transited the Strait of Hormuz by ship on Monday, the highest volume since the Iran conflict began in late February, U.S. Energy Secretary Chris Wright confirmed in a Wednesday interview with CNBC.
The figure, reported during a House Appropriations Subcommittee hearing on the Trump administration’s 2027 Department of Energy budget request, exceeds pre-war transit levels when accounting for additional pipeline capacity around the strait. Wright stated that around 20 million barrels per day (bpd) of crude and products passed through the strait before the conflict began on February 28.
U.S. crude oil prices dipped roughly 1% on Wednesday, though they had hovered near $90 per barrel earlier in the session as tensions between Washington and Tehran escalated with reciprocal military strikes.
Record transit amid ongoing conflict
The Monday transit volume represents a significant increase from earlier estimates. In early August, Wright had estimated a seven-day average of nearly 9 million bpd passing through the strait, a figure that some market analysts disputed as overstated. Analysts at the time projected actual volumes closer to 4 million to 6 million bpd, citing undercounting due to vessels disabling transponders to evade Iranian attacks.
Wright defended the administration’s figures, noting that market projections often fail to account for ships that turn off tracking systems to avoid detection. The Department of Energy estimates that an additional 4-5 million bpd of oil bypassed the strait via pipelines, bringing total Gulf region exports above pre-war levels.
Policy implications and regional dynamics
The administration has framed the increased transit as a policy success, emphasizing efforts to maintain oil flow without securing a long-term ceasefire with Iran. The Trump administration has also highlighted its 35% equity stake in a new Venezuelan oil company, positioning it as part of a broader strategy to diversify supply routes and reduce reliance on the strait.
Before the conflict, the Strait of Hormuz accounted for roughly 20% of global oil demand, underscoring its critical role in global energy markets. The ongoing transit levels, while reduced from pre-war volumes, reflect efforts to stabilize supply chains amid heightened regional instability.
Market and geopolitical context
The Monday transit figures coincide with fluctuating oil prices and heightened military activity. Brent crude futures remained volatile, with analysts attributing price movements to both supply disruptions and geopolitical risk premiums. The U.S. and Iran have exchanged strikes in recent weeks, raising concerns about further escalation and its potential impact on energy infrastructure.
Wright’s remarks were delivered as part of broader testimony on the Department of Energy’s budget priorities, including investments in energy security and infrastructure resilience. The administration has not indicated plans to pursue a formal ceasefire with Iran, instead focusing on maintaining critical supply routes and diversifying export pathways.