Aramco, Adnoc Sneak Oil Through Hormuz as Iran Menaces Strait
Oil tankers navigate the sea near Qeshm Island, Iran in the Strait of Hormuz on April 28.
Source: Getty ImagesSaudi Arabia’s Aramco Trading Co. and the UAE’s state oil company Adnoc are among firms that have moved crude cargoes through the Strait of Hormuz since Iran effectively closed the waterway, according to people familiar with the situation.
While total flows remain a tiny fraction of what they were before Tehran closed the oil channel almost 10 weeks ago, the two firms’ activity nevertheless serves as a reminder that some supply is still managing to reach global markets.