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Aramco, Adnoc Sneak Oil Through Hormuz as Iran Menaces Strait

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Saudi Arabia’s Aramco Trading Co. and the UAE’s state oil company Adnoc are among firms that have moved crude cargoes through the Strait of Hormuz since Iran effectively closed the waterway, according to people familiar with the situation.

While total flows remain a tiny fraction of what they were before Tehran closed the oil channel almost 10 weeks ago, the two firms’ activity nevertheless serves as a reminder that some supply is still managing to reach global markets. Iran has menaced shipping in the strait throughout the conflict, and seized a vessel on Friday after coming under attack from the US, although it appeared to be a sanctioned vessel carrying the Islamic Republic’s own oil.

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