Oil shipments through Strait of Hormuz near zero while prices hold, Gordon Johnson notes

Oil shipments through Strait of Hormuz near zero while prices hold, Gordon Johnson notes
Oil flows drop but prices unchanged

Gordon Johnson, CEO / Analyst at GLJ Research, observes that oil crossings through the Strait of Hormuz have collapsed to near zero following the resumption of war.

Despite this major disruption to supply, Johnson highlights that oil prices remain at pre-war levels, suggesting that political statements are influencing the market more than actual supply and demand dynamics.

Johnson previously reported that no oil tankers crossed the strait over the weekend while oil prices remained steady as U.S. stock futures opened. He has also questioned the pace of progress in other sectors, noting just 31 active vehicles in Tesla's robotaxi fleet. These observations come as market reactions diverge from changes in actual supply.

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