JP Morgan, Goldman Diverge on Hormuz Oil Flow Estimates
- 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.
76 Articles
76 Articles
(Seoul = Yonhap News) Reporter Lee Ji-heon = Crude oil exports from the Middle East have recently nearly recovered to normal levels prior to the outbreak of the U.S.-Iran war, CNN reported...
Egypt Independent
Phil's Stock WorldIran has lost considerable leverage in the Strait of Hormuz. It can’t go on like this forever
Gulf oil producers, with considerable support from the US Navy, are jamming crude through the Strait of Hormuz, right under Iran’s nose. Oil and petroleum product flows through the critical chokepoint averaged 13.1 million barrels per day last week, according to Kpler, a marine data tracking service. That’s just under 80 percent of the 17.1 …
JP Morgan, Goldman Diverge on Hormuz Oil Flow Estimates
Crude oil exports from the Middle East have recovered almost fully to pre-war levels, according to JP Morgan, which also said fuel exports were ramping up. The bank’s analysts saw September daily oil flows at an average of 17.5 million barrels daily, or 98% of pre-war levels, with fuel exports at 3 million barrels daily, or 58% of pre-war daily average levels, Bloomberg reported, citing JP Morgan’s commodity analysts. “The Middle East’s oil expo…
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