Today’s Strait of Hormuz Mystery: Where Did the Oil Go?

It’s a real puzzler: The Trump administration’s claims about the amount of oil coming through the waterway cannot be independently confirmed.

Energy Secretary Chris Wright claimed last week that the United States helped move 15 million barrels of oil through the Strait of Hormuz on Tuesday. He also claimed that the average daily oil exports were more than eight million barrels over a seven-day period.

But a consistent gap has emerged between the Trump administration’s claims and industry firms’ findings, The Wall Street Journal reported Monday.

Kpler, a ship-tracking firm, estimated that the U.S. moved a daily average of roughly 2.3 million barrels of crude and oil products in August. Huax, another tracker, placed average daily exports at between two million and five million barrels. For context, before the U.S. attacked Iran, an average of 20 million barrels of oil passed through the Strait of Hormuz every single day.

Vortexa, another tanker tracker, found that a seven-day average peaked at 9.2 million barrels—a number far closer to the administration’s claims. But its 28-day average was roughly six million barrels. Clearly, the number can vary greatly depending on what specific dates are selected.

Wright has claimed that private data firms are undercounting the number of ships passing covertly through the strait, but one expert explained why that’s not likely.

Rory Johnston, a founder of Commodity Context, an oil-market research firm, told The Wall Street Journal that the firms tracking tankers had all found similar numbers. “You’d expect someone to have figured out a way to validate the White House numbers if there was a way,” Johnston said. “As of yet, I haven’t seen anyone do it.”

Since the beginning of the war, industry firms have struggled to monitor the passage of ships that are forced to “go dark” and silence their marine radio tracking systems. Still, the numbers the Trump administration is presenting aren’t supported by any information from the companies that are actually loading the ships.

The London Stock Exchange Group estimated the amount of crude and oil being loaded onto ships in the Persian Gulf was about 1.9 million barrels a day—down from 4.4 million barrels a day in July.

Wright has also insisted that the United States has gained full control of the Strait of Hormuz.

Latest Trump Financial Disclosure Reveals Dubiously Timed Stock Sales

The president, as the kids say, isn’t beating the charges (of insider trading).

Donald Trump made some eyebrow-raising changes to his stock portfolio in June.

The president reshuffled his investment accounts, rotating between stocks and bonds in exchanges that totaled between $78.1 million and $263.1 million, according to a financial disclosure released August 22.

The disclosure does not reveal the true value of Trump’s portfolio, as it does not list the rates at which Trump bought or sold stock, or the quantity that he owns. However, it does indicate that the president made numerous investments in multiple companies that are currently in business with his administration.

Trump made more than 1,000 stock trades in June, according to the filing. The single largest transaction was an offloading of shares of a Vanguard exchange traded fund, totaling between $5 million and $25 million in a June 22 sale.

The other major expenditures were related to financial institutions. Trump purchased between $1 million and $5 million of Berkshire Hathaway, and similar amounts in credit card companies Visa and Mastercard, as well as Cintas, an Ohio-based business supply firm.

He bought between $15,001 and $50,000 worth of SpaceX some 11 days after its initial public offering,........

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