US claims on Hormuz oil flow undercut by ship-tracking data as oil tops $107

Brent crude rose to $107.82 a barrel, near a four-month high, after an unidentified projectile struck an Iranian vessel near Hengam Island and a drone attack damaged Saudi Arabia's East-West pipeline, which normally carries oil around the strait. The US energy secretary said oil volumes moving through Hormuz were back to two-thirds of their pre-war level, but ship-tracking data cast doubt on that: vessel transits held in the single digits over recent days, against a pre-conflict daily average of more than 100. War-risk insurance for ships transiting the strait has climbed to 3 to 10 percent of a vessel's hull value, up from 0.25 percent before the conflict.

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