Oil flows through the Strait of Hormuz have recovered to 80%of pre-US-Iran war levels, averaging 13 million to 14 million barrels per day,US Energy Secretary Chris Wright said Monday.
Wright added that Washington was negotiating with Europeancountries to release large diesel stockpiles, although progress had been slow.He also clarified that the recent sanctions waiver for Russia appliedexclusively to diesel exports.
Earlier this month, Washington agreed to ease sanctions onRussian diesel exports, with Moscow pledging to supply more than 300,000 metrictons to global markets. US President Donald Trump described the arrangement asa way to increase supplies to international markets rather than deliver fueldirectly to the United States, arguing that the additional volumes would helplower energy prices.
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