Oil Prices Stay High Despite Hormuz Recovery - Cargo Insights
9 Articles
9 Articles
Despite daily attacks, more tankers pass the road of Hormuz again. Washington celebrates this as a success. But appearances are deceptive: crude oil prices remain high, and Tehran has not played all the cards yet.
Hormuz oil flows rise, but costs and risks could soon become unsustainable
Oil industry trackers say crude flows through the Strait of Hormuz have recovered to 13-17 million barrels a day.That may seem like a relatively modest drop from the 20 million barrels a day that flowed through the waterway before the Iran war.But...
More oil is flowing through the Strait of Hormus, although Iran is threatening commercial ships with drones and missiles. The US is militaryly securing the tankers and thus trying to keep the important route open.
Crude oil flow through the Strait of Hormuz has reached 17.5 million barrels per day, very close to pre-war levels. However, prices remain stubbornly above $100. High transportation costs and renewed conflict concerns keep risks alive, while inventories are also experiencing significant declines. In the US, strategic petroleum reserves have fallen to 283 million barrels, the lowest level since 1982. These developments are slowing the decline in …
The Gulf countries were able to practically resume oil exports after a sharp drop in supplies due to the crisis in the Strait of Hormuz, but the restructuring of routes did not return the energy market to normal. More expensive transportation, diesel fuel shortages and fertilizer supply problems continue to increase agricultural sector costs in different regions of the world. According to Kpler, at the end of September, oil exports from countrie…
Even when the tankers start to circulate again, the oil market does not immediately recover its calm. The Strait of Ormuz concentrates such a share of world exports that a threat of blockade is enough to keep prices under stress. As long as no road can really replace it, every crisis in the region is reflected up to the price of the barrel.
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