Hormuz crude flows reached 16.5 million barrels per day as Iran's blockade broke down

Crude flows through the Strait of Hormuz reached at least 16.5 million barrels per day in September as Iran's ability to choke off traffic broke down, the Wall Street Journal reported. The strait is a critical hub for world oil and gas. The shift weakens Tehran's leverage with Washington, though high insurance costs still limit normality.