--- title: "Axios: 40 Tankers Transited Hormuz Friday Night, But Real Crisis Is Diesel" type: "News" locale: "en" url: "https://longbridge.com/en/news/296687403.md" description: "While 40 tankers transited the Strait of Hormuz, signaling continued crude flow, experts identify a severe diesel crisis. Diesel crack spreads hit record highs due to tight physical markets and reduced refining capacity in Russia. Analysts warn that refined products, not crude oil, are the primary bottleneck, posing significant risks to industrial economies and consumers ahead of winter." datetime: "2026-08-22T19:46:43.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296687403.md) - [en](https://longbridge.com/en/news/296687403.md) - [zh-HK](https://longbridge.com/zh-HK/news/296687403.md) generator: "portal-rs" --- # Axios: 40 Tankers Transited Hormuz Friday Night, But Real Crisis Is Diesel Axios political reporter and Middle East correspondent Barak Ravid reported early Saturday that **40 tankers transited the Strait of Hormuz on Friday night**, citing three unnamed US officials. "**Around 16 million barrels of oil moved out of the strait through the southern channel on Friday night**," Ravid wrote on X. > 🚨🚢🛢️Around 40 tankers transited in and out of the Strait of Hormuz through the southern deep channel on Friday night. Around 16 million barrels of oil moved out of the strait through the southern channel on Friday night, three U.S. officials told me > > — Barak Ravid (@BarakRavid) August 22, 2026 The latest Bloomberg vessel-tracking data show that 13 ships transited the critical waterway on Saturday, with seven traveling east to west and six moving west to east. Traffic remains well below the levels recorded during the brief memorandum-of-understanding period from June 15 through mid-July. On Friday, President Trump called the **Hormuz chokepoint "an American territory"...** "We don't even know if we won, because I view the Strait of Hormuz as an American territory right now," Trump said, addressing a crowd in South Carolina. Trump joked about bombing Iran during the speech, saying, "It's a Friday night. We have plenty of time... and what the hell do I have to do? Go back and bomb Iran a little bit more?" **Axios reported Wednesday that the US military had established a shipping corridor in the critical waterway**, which carries millions of barrels of oil each day. There was no word from Ravid on whether the 40 tankers sailed through the new shipping corridor. Even with these transits, the **emerging energy crisis is not centered on crude availability**, as SPRs around the world are being tapped to offset lost production in the Gulf region. **Instead, the real crisis is materializing in the refined-products market.** The focus emerged at the start of the week when **Bloomberg's front-month US diesel crack spread (HOCL1 Index) topped $100 a barrel, as we warned:** *"Industrial economy either grinds to a halt or consumers about to be hit with the biggest energy pass-through in history."* > Diesel crack hits record $102. This is absolutely unprecedented. > > Industrial economy either grinds to a halt or consumers about to be hit with the biggest energy pass through in history pic.twitter.com/OtAdgrCvb3 > > — zerohedge (@zerohedge) August 17, 2026 Then, by Wednesday, Jeff Currie, the former Goldman Sachs commodities chief and now co-chair of Abaxx Markets, appeared on CNBC to explain that the real crisis is not in crude but in diesel markets. "**Nobody on the planet Earth consumes crude oil,**" Currie told CNBC. "**Refineries do. Everyone else consumes gasoline, diesel and jet fuel, and those markets look considerably uglier**." By Thursday, Currie explained that the **convergence of tight physical markets, currency debasement and policy intervention represents the hallmark of a structural commodity bull cycle**. "Stop looking at crude. Nobody consumes it but refineries. **The economy runs on gasoline and diesel, and that consumption-weighted basket costs $165 against $85 WTI**," Currie wrote on X. Read the report. **Related:** - *Diesel Crack Spread Madness Deepens As Jefferies Finds No Easy Exit From Russia's Refining Crisis* The US diesel crack spread closed below $100 on Friday, but the Hormuz disruption, compounded by Ukraine's decimation of Russia's refining capabilities, is creating a perfect storm for global diesel markets ahead of the Northern Hemisphere winter. ### Related Stocks - [SCO.US](https://longbridge.com/en/quote/SCO.US.md) - [UCO.US](https://longbridge.com/en/quote/UCO.US.md) - [BNO.US](https://longbridge.com/en/quote/BNO.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [GUSH.US](https://longbridge.com/en/quote/GUSH.US.md) - [DRIP.US](https://longbridge.com/en/quote/DRIP.US.md) - [JEF.US](https://longbridge.com/en/quote/JEF.US.md) - [GS.US](https://longbridge.com/en/quote/GS.US.md) - [W4VR.SG](https://longbridge.com/en/quote/W4VR.SG.md) ## Related News & Research - [Crude Oil Prices Jump as Hopes Dim of Reopening the Strait of Hormuz](https://longbridge.com/en/news/296513985.md) - [W.Africa Crude - Freight rate spike weighs on differentials](https://longbridge.com/en/news/296638716.md) - [Asia Distillates-Diesel cash premiums fall back to one-month low, more Sept sales underway](https://longbridge.com/en/news/296463157.md) - [Singapore oil product inventories ease to two-month lows](https://longbridge.com/en/news/296459963.md) - [Oil edges up on uncertainty over exports through Hormuz](https://longbridge.com/en/news/296282399.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**