Goldman Sachs: Refined oil product flow through Strait of Hormuz drops to 35% of pre-war levels

Goldman Sachs executives reported that refined oil product flows through the Strait of Hormuz have fallen to 35% of pre-war levels, while crude oil flows are at 70%. Middle East supply shocks have impacted refined products, particularly heavy products like diesel, more severely than crude oil. Kpler data indicates that approximately 2.2 million barrels of refined products and 14.95 million barrels of crude oil were transported through the strait daily last year.