Middle East oil exports rise as LNG traffic through Hormuz picks up
Kpler estimates 12.5 million barrels a day moved through the strait last week, while refined fuel flows stayed far below prewar levels.
- Middle East crude oil exports reached 13 million barrels per day in September, the highest level since February, as United States and allied efforts to circumvent Iran's control over the Strait show success.
- The U.S. Navy and regional allies have "become better at fending off or evading" attacks, allowing more tankers to transit the Strait, according to a Wall Street Journal analysis published Tuesday.
- Saudi Arabia increased exports to around 5.4 million barrels a day in September, while total regional shipments reached nearly 80% of prewar levels last week, according to research firm Kpler.
- Despite rising exports, The Wall Street Journal warned Iran's loss of de facto control over the Strait could increase the risk of military escalation as the country faces potential fuel shortages.
- President Donald Trump rejected an Iranian proposal on Saturday to reopen the Strait, while indirect mediation talks involving Qatar and Iranian Foreign Minister Abbas Araghchi continued without a breakthrough on Monday.
142 Articles
142 Articles
IBTimes UK
ghanamma.comStrait of Hormuz News: Crude Returns to Prewar Levels, Will Oil Prices Finally Fall?
Crude shipments through the Strait of Hormuz have returned to prewar levels, but diesel and other refined fuel supplies remain severely constrained by refinery damage and shipping disruption.
The flow of crude through this key artery of world energy recovers strongly, but attacks on ships continue and prevent the price of crude oil from falling
Business Recorder
Times of IndiaOil prices barely changed as investors assess US-Iran peace talks and Gulf exports
TOKYO: Oil prices were nearly flat in early Asia trade on Thursday, following the previous day’s gains and steep monthly rises, as investors assessed the outcome of US-Iran peace talks and the outlook for Middle East crude exports. Brent crude futures rose 12 cents or 0.1%, to $98.15 a barrel by 0045 GMT, while US West Texas Intermediate crude was at $90.35 a barrel, down 7 cents, or 0.1%. Both benchmarks rose about $1 a barrel on Wednesday. …
Oil shipments are rebounding. So why aren’t fuel prices falling?
Crude oil shipments through the Strait of Hormuz are nearing prewar levels, but the rebound has done little to ease global fuel prices as the broader oil supply system remains under severe strain, The Washington Post reports. Ship-tracking firm Kpler estimates that nearly 12.5 million barrels per day moved through the strait in the week […]
While the situation between Iran and the United States still seems to be stuck, oil traffic is taking over from Oman's coasts, according to several experts, but for the time being Europe is not benefiting from it.
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