About 8M Barrels a Day Now Exiting Hormuz, Clarksons Research Says

The gap between pre-conflict and current Hormuz volumes is the real signal here: the disruption is partial, not a closure, so the market is pricing rerouted and reduced flow rather than an outright halt. This matters most for refiners and buyers dependent on Gulf crude, and for freight and insurance costs along alternative routes. Whether volumes stabilize near current levels or erode further as the conflict evolves is the open question.