Middle East oil exports rise as LNG traffic through Hormuz picks up
Saudi exports more than doubled after pipeline repairs, while refined fuel shipments remain about half normal levels, analysts said.
- On Thursday, Brent crude futures fell 1.1% to $96.92 a barrel, while West Texas Intermediate dropped 1.4% to $89.18 as recovering Gulf exports and rising US inventories eased supply concerns.
- Saudi Arabia resumed tanker loadings from its Red Sea port of Yanbu after restarting the East-West Pipeline, helping Gulf oil exports recover to 23.3 million barrels per day.
- The Energy Information Administration reported US crude inventories rose by 922,000 barrels to 427.3 million barrels in the week ended September 25, defying expectations for a 264,000-barrel draw.
- Sugandha Sachdeva, founder of WealthStreet, noted that renewed US-Iran diplomatic engagement could reduce the geopolitical risk premium, though a breakthrough remains uncertain.
- Ahead of Sunday's OPEC+ meeting where production targets will likely remain steady, Brent crude finished September with a gain of approximately 14 percent, its strongest monthly advance since July.
211 Articles
211 Articles
In September, oil exports from the Gulf region reached levels almost similar to those before the start of the American-Israeli war against Iran. U.S. President Donald Trump promised to lower prices as soon as the Iranian threat to the Strait of Ormuz would no longer have as much effect on oil flows, yet that is not what is happening.
The New Geography of Energy: Why Refining Capacity May Matter More Than Oil Reserves
Crude Came Back. Diesel Didn’t. This week, seven months after the Iran war shut the Strait of Hormuz, crude oil finally returned to normal. Around 13.5 million barrels a day are again leaving the Gulf through the strait, matching the prewar baseline. Refined fuel tells a different story. Shipments of diesel, jet fuel and other […]
Analysis: U.S. Cements Control of Strait of Hormuz as Mideast Crude Oil Exports Reach Pre-March Levels, Oil Prices Fall
Oil tanker traffic through the Strait of Hormuz reached a seven-day average of 13.5 million barrels per day, levels not seen since before the March 1 attack by the U.S. and Israel on Iran, and comes amid the continued U.S. naval blockade of Iranian ports, according to global trade analytics firm Kpler.
Gulf oil exports rebound despite Hormuz blockade
Gulf oil exports through the Strait of Hormuz have rebounded to pre-war levels, according to a tracking platform, as more vessels prove willing to make the risky transit under US escort despite Iran's efforts to choke the waterway. Before the Middle East war, around a fifth of the hydrocarbons consumed worldwide passed through the strategic chokepoint, which has become a major source of friction between Tehran and Washington. Iran still claims c…
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