No, it's because oil is still transiting the strait. A select group of tankers has been bypassing the Iranian "blockade" and ferrying oil across for months now.
> US Energy Secretary Chris Wright said Wednesday that the American military continues to escort barrels through Hormuz, and that about 13 million barrels a day are leaving the Gulf — half through the strait and half via bypass pipelines. US Central Command said on Wednesday that since early May, it has helped about 500 million barrels of oil leave Hormuz, suggesting roughly 5.6 million barrels a day over the period.
> US Energy Secretary Chris Wright said Wednesday that the American military continues to escort barrels through Hormuz, and that about 13 million barrels a day are leaving the Gulf — half through the strait and half via bypass pipelines. US Central Command said on Wednesday that since early May, it has helped about 500 million barrels of oil leave Hormuz, suggesting roughly 5.6 million barrels a day over the period.
https://gcaptain.com/hormuz-oil-shuttling-trade-is-picking-u...
https://www.telegraph.co.uk/world-news/2026/06/05/us-secretl...
https://www.bloomberg.com/news/articles/2026-07-16/dark-ship...
https://www.reuters.com/business/energy/us-is-using-an-irani...