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[INTERNATIONAL] · United States, Iran, Saudi Arabia, Yemen · 13 sources

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Strait of Hormuz sees 60 vessels and 22 million barrels of oil pass in one day

Approximately 60 commercial vessels crossed the Strait of Hormuz on Wednesday, September 23, transporting roughly 22 million barrels of oil. This represents the highest 24-hour volume of crude oil to pass through the strategic waterway since early July. According to an American official, nearly 40 of these vessels were coordinated with US armed forces for protection.

The increase in maritime traffic occurs amid ongoing conflict between the United States and Iran. Reports indicate that negotiators from both nations are currently meeting in New York to discuss terms for de-escalation. Proposed terms include Tehran restoring freedom of navigation through the Strait of Hormuz in exchange for Washington lifting economic sanctions on Iran.

Market volatility has been high due to the geopolitical situation. Oil prices initially surged by 5% following Houthi missile attacks against Saudi Arabian export hubs, including the Yanbu terminal, before stabilizing as news of the diplomatic talks emerged. Saudi Arabia has worked to increase pumping through its East-West pipeline to mitigate potential disruptions caused by the regional instability.

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Houthis · Iran · Iran · New York · Reuters · Saudi Arabia · Strait of Hormuz · United States

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