Mercuria CEO Claims Oil Flows Persist Despite Hormuz Closure

Mercuria Energy Group Ltd. has maintained its shipping operations through the Strait of Hormuz, according to co-founder and CEO Marco Dunand. Speaking at the FT Global Commodities Summit in Lausanne, Switzerland, Dunand revealed that the firm was well-positioned prior to the waterway's closure and has continued to move vessels despite the conflict that erupted in late February. The revelation comes amid heightened global anxiety over energy security, as the Strait of Hormuz remains one of the world's most critical oil chokepoints. The ability of a major trading house to bypass perceived closures suggests that the physical supply of oil may be more resilient than official data indicates. Dunand noted that there are "various ways" to facilitate these movements, though he declined to provide specific operational details. Crucially, he asserted that the volume of oil tankers currently transiting the waterway is higher than what is being captured by standard vessel tracking systems. For market participants, this discrepancy between tracking data and actual flow could lead to a reassessment of the global oil supply. The implication that 'dark' shipping or alternative routing is mitigating the impact of the geopolitical crisis may serve to cap the upside of crude oil prices by reducing the perceived severity of the supply disruption.