Closed? Not Even Close—Oil Keeps Moving, but So Do Red Flags
Closed? Not Even Close—Oil Keeps Moving, but So Do Red Flags  
Podcast: The 47 Morning Update with Ben Ferguson
Published On: Tue Jun 23 2026
Description: 1. Strait of Hormuz Situation Iran claimed multiple times that it has closed the Strait of Hormuz. However, actual shipping traffic continued, including oil and LNG tankers. U.S. Central Command (CENTCOM) stated: Iran does not control the strait Passage remains open and monitored Data cited: ~55 merchant ships transit per day ~17 million barrels of oil moving through 2. Maritime Risk & Behavior Ships are: Turning off AIS tracking systems for safety Operating cautiously due to military tensions Traffic has: Fluctuated (e.g., 26 ships one day → 5 the next) Not returned to “normal pre-conflict levels” 3. U.S.–Iran Negotiations (MoU) A Memorandum of Understanding (MoU) has been signed: Covers nuclear issues, sanctions, and broader conflict Includes: Potential release of frozen Iranian funds Conditional progress requirements Key issue: Concern over how Iran will use funds Oversight mechanism proposed via Qatar Funds may be used for: Food purchases (e.g., American soybeans) 4. Nuclear Program Concerns Iran has: Agreed (in principle) to allow inspectors But: U.S. officials express skepticism Historical distrust is repeatedly emphasized 5. Economic Implications Oil prices: Declining (~$74/barrel) due to optimism Markets: Near record highs Strait stability is linked directly to: Global energy supply Economic stability Please Hit Subscribe to this podcast Right Now. Also Please Subscribe to the The Ben Ferguson Show Podcast and Verdict with Ted Cruz Wherever You get You're Podcasts. And don't forget to follow the show on Social Media so you never miss a moment! Thanks for Listening X: https://x.com/benfergusonshowSee omnystudio.com/listener for privacy information.