larry johnson isn't optimistic about our 'oil' futures; 

 

On Wednesday, June 24, 2026, President Donald Trump claimed that a record volume of oil was flowing through the Strait of Hormuz following the recent US-Iran ceasefire deal. He announced that 19 million barrels of oil had moved through the strait the previous day (Tuesday). He highlighted that pre-war flows averaged over 20 million barrels daily but had dropped sharply (to 1–4 million barrels) during the conflict, and he presented the recent increase as a major success. Here is a shocker… Trump is not telling the full truth.

According to MarineTraffic and related maritime intelligence data for Tuesday, June 23, 2026:

Approximately 7–12 oil tankers (crude and product carriers) transited the Strait of Hormuz, with some sources noting 7 fully tracked tankers (including supertankers) broadcasting AIS signals.

Prior to February 28, 2026 (before the escalation of the 2026 Iran-related conflict), the average number of oil tankers passing through the Strait of Hormuz was approximately 40–50 per day. At best, assuming that 12 oil tankers transited the Strait, this represents only 24% of normal traffic. But this amount barely dents the shortage of heavy crude that now confronts the world. In addition, none of the oil tankers that sailed thru on Tuesday were headed to the US or Europe… All of the oil was headed to Asia, with the majority of the cargo destined for China.............more.............