US Treasury Secretary Scott Bessent says 10 million to 17 million barrels a day are moving through Hormuz despite the blockade
Question
US Treasury Secretary Scott Bessent says 10 million to 17 million barrels a day are moving through Hormuz despite the blockade
Direct answer
The reported reduction in effective Hormuz throughput confirms a substantial but incomplete supply constraint, supporting crude prices while limiting the upside from a total closure scenario.
- Original publisher
- Market Ontology
- Evidence through
- 2026-09-23
- Published
- 2026-10-20
- Revision
- 1 · 2026-10-20
Cite as: Market Ontology, “US Treasury Secretary Scott Bessent says 10 million to 17 million barrels a day are moving through Hormuz despite the blockade”, revision 1, evidence through 2026-09-23. https://marketontology.com/market-events/2026-09-23/us-treasury-secretary-scott-bessent-says-10-million-to-17-million-barrels-a-day-15d091
How this development reaches the affected companies
| Asset | Exposure and channel | Direction | Evidence |
|---|---|---|---|
| BRENT CRUDE FUTURES | Throughput below the pre-conflict level implies reduced near-term availability and elevated disruption risk. | Up1-5d | Bessent cited current flows of 10 million to 17 million barrels per day versus roughly 20 million before the conflict. |
| WTI CRUDE FUTURES | A sustained Gulf supply constraint raises the global crude benchmark and supports US crude prices. | Up1-5d | The reported disruption affected a major oil transit route and forced some barrels onto alternative routes. |
| USO | Higher expected crude prices lift the value of the US oil-futures exposure held by the fund. | Up1-5d | Reported Hormuz throughput remained materially below its pre-conflict level. |
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What happened next
| Asset | Call | Base close | +1 day | +5 days | +20 days |
|---|---|---|---|---|---|
| USO | Updisagreed | 148.83 2026-09-23 | +2.86% | -2.13% | Pending |
Closing prices from stored daily bars; returns measured from the last close on or before the event date. Not a recommendation.
Sources
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