Closed? Not Even Close—Oil Keeps Moving, but So Do Red Flags

The 47 Morning Update with Ben Ferguson · Jun 23, 2026 · 16m · transcript

1. Strait of Hormuz Situation

Iran claimed multiple times that it has closed the Strait of Hormuz.

However, actual shipping traffic continued, including oil and LNG tankers.

U.S. Central Command (CENTCOM) stated:

Iran does not control the strait

Passage remains open and monitored

Data cited:

~55 merchant ships transit per day

~17 million barrels of oil moving through

2. Maritime Risk & Behavior

Ships are:

Turning off AIS tracking systems for safety

Operating cautiously due to military tensions

Traffic has:

Fluctuated (e.g., 26 ships one day → 5 the next)

Not returned to “normal…