Goldman Sachs Says Oil Flows from Hormuz Recover Two-Thirds of Pre-US Iran War Level

Oil flows through the Strait of Hormuz have recovered to around two-thirds of pre-conflict levels, according to Goldman Sachs. The rebound helped limit the US-Iran war’s impact on global crude oil prices, helping trigger positive sentiment in Bitcoin and other risk assets.

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Goldman Sachs Confirms Rising Oil Flows from Strait of Hormuz

Total exports of crude and oil products from the Gulf region have risen to 15 million to 16 million barrels a day, helped by higher crossings through the Strait of Hormuz, Goldman Sachs analysts including Daan Struyven and Yulia Zhestkova Grigsby said in a note to clients.

However, it’s still 7 to 8 million barrels below the pre-US-Iran war levels. Oil flows through the Strait of Hormuz were between 5 million and 6 million barrels a day in March.

The figures are likely close to U.S. officials’ estimate of 8 million to 10 million barrels a day. Treasury Secretary Scott Bessent revealed that the U.S. has guided 130 million barrels out over the past 14 days amid operation economic outcast.

The Blockade and Operation Economic Outcast will crush the failing Iranian economy.

The USA has guided 130 millions barrels out over the past 14 days.

Iran: 0 https://t.co/fvSXKpXRgs

— Treasury Secretary Scott Bessent (@SecScottBessent) August 28, 2026

CENTCOM Commander Admiral Bradley Cooper said U.S. forces have taken full control of maritime traffic through the Strait of Hormuz. He claimed Iran is now completely shut out of its own oil exports.

US forces also cleared Iranian-laid mines from international shipping lanes, allowing commercial traffic to resume under American protection.

Meanwhile, Iran is preparing a list of conditions to reopen the Strait of Hormuz after Qatar’s PM pressed Tehran on freedom of navigation. Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said Iran will discuss reopening the strait and gradually increasing traffic.

Oil prices dropped slightly to below $83 per barrel on Friday despite President Donald Trump signaling he is not interested in a deal with Iran.

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Will Bitcoin Continue to Rally Amid Easing US-Iran War Conditions?

Bitcoin is trading more than 1% higher in the past 24 hours, with the price currently trading around $79,900. The 24-hour low and high are $78,597 and $81,281, respectively.

Furthermore, trading volume increased by almost 30% in the last 24 hours despite crypto options expiry. Investors also await Fed Chair Kevin Warsh’s Jackson Hole speech.

Odds of the Fed holding rates in September are now at 66%. Bitcoin will break $83K amid dovish sentiment from Kevin Warsh. If he skipped mentioning the Fed stance, it could also trigger upside momentum in Bitcoin.

As CoinGape reported earlier, Goldman Sachs turned optimistic on crypto market for the second half of 2026. Positive developments include recent SEC innovation exemptions, crypto companies securing OCC national bank charters, and crypto infrastructure services to TradFi.

Polymarket data shows prediction market participants expect the Bitcoin price to reach $85,000 by December 31, 2026, with 74% ‘Yes’ bets.