Oil exports through Hormuz fall to one-third of pre-war levels in June

Oil exports through Hormuz dropped to one-third of pre-war levels in June, potentially causing sustained higher oil prices and impacting global economic stability. Conversely, the United Arab Emirates has restored its oil exports to pre-war levels. The UAE achieved this by utilizing a pipeline that bypasses the waterway and employing undetected tankers to move oil through the Strait of Hormuz. These contrasting trends highlight the complex geopolitical tensions currently affecting global energy markets and shipping routes.