The news out of the Strait of Hormuz is pretty straightforward: The Islamic Republic of Iran has all but lost whatever control it once had over the maritime traffic flowing through that contested choke point. โMiddle Eastern crude exports rebounded this month to around their highest level since the war began in February,โ the Wall Street Journal reported. โShipments via Hormuz and bypass routes were delivering just under 80% of their prewar regional flows as of last week, according to tracker Kpler.โ
Thatโs just about where the U.S. wants energy exports out of Hormuz to be. After all, the whole point of the blockade is to ensure that Iranian exports never make it to market in the first place. In that sense, U.S. policy in the region has succeeded. Iranian outbound flows are basically at zero.






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