Key Takeaways
- Oil transits through the Strait of Hormuz have reached a 10 million barrel per day (Mbpd) average, with U.S. Energy Secretary Chris Wright forecasting further growth as naval escorts stabilize the corridor.
- Japan’s nationwide land prices rose 1.5% in 2026, marking the fifth consecutive year of gains and the strongest sustained growth since the 1991 asset bubble.
- Turkish Foreign Minister Hakan Fidan called for an immediate halt to mutual attacks in the Gulf, emphasizing that freedom of passage in the Strait of Hormuz is critical for global peace efforts.
- Daytime tanker transits are increasing, with TankerTrackers reporting that 10 Mbpd over a seven-day period effectively translates to 14 Mbpd during active five-day windows.
- Brent crude remains volatile above $100 per barrel as markets weigh the recovery of shipping traffic against ongoing military escalations between regional actors and Western forces.
Energy Markets: Hormuz Transits and the "Wright" Forecast
U.S. Energy Secretary Chris Wright confirmed on Monday that the volume of oil and refined products transiting the Strait of Hormuz is on an upward trajectory. Currently, the seven-day rolling average for shipments has reached 10 million barrels per day (Mbpd), a significant recovery from the "trickle" observed during the height of the U.S.-Iran military confrontation earlier this year. Wright noted that a single-day peak on September 1 actually hit 18 million barrels after accounting for previously uncounted vessels.
Industry observers at TankerTrackers (@TankerTrackers) highlighted that this volume is increasingly concentrated in daytime transits. Their data suggests that the 10 Mbpd weekly average reflects a higher intensity of 14 Mbpd during the five busy days of the week. Secretary Wright clarified that these "oil" figures encompass both crude oil and refined products, as the U.S. Navy continues to provide escorts for tankers navigating the strategic chokepoint.
Geopolitical Tensions: Turkey Urges Restraint in Baku
Speaking from a joint press conference in Baku, Azerbaijan, Turkish Foreign Minister Hakan Fidan issued a stern warning regarding the escalating "tit-for-tat" attacks in the Persian Gulf. Fidan stated that reciprocal strikes are directly undermining diplomatic peace efforts and must stop immediately to prevent a wider regional conflagration.
The Minister emphasized that the Strait of Hormuz must remain open for safe, uninterrupted, and free passage. Turkey’s diplomatic push comes as Houthi rebels continue to target Saudi infrastructure, and the U.S. maintains a heavy naval presence to counter Iranian maritime threats. Fidan noted that Iran's stability is a prerequisite for regional prosperity, urging a return to the pre-war status quo through political means.
Japan Real Estate: Tourism and Housing Drive 5-Year Rally
Japan's real estate market continues its robust recovery, with the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) reporting a 1.5% rise in average land prices for 2026. This marks the fifth straight year of appreciation, fueled by a surge in inbound tourism and resilient urban housing demand. The growth is most pronounced in the three major metropolitan areas—Tokyo, Osaka, and Nagoya—where prices jumped 4.4% year-on-year.
Specific regions are seeing even more dramatic gains. Commercial land in the alpine resort of Hakuba saw prices skyrocket by 35.6%, while Chitose in Hokkaido recorded increases as high as 44.1% due to industrial and tourism development. Despite the Bank of Japan (8301) raising interest rates to 0.75% in late 2025, the highest level since 1995, the land market has yet to show signs of overheating, according to central bank officials. For the 21st consecutive year, the Meidi-ya Ginza Building remains the most expensive commercial site in the country.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.