Gulf Oil Recovery and Hormuz Focus
Crude oil flows from the Gulf region are approaching pre-war levels, despite ongoing risks that threaten shipping movements, according to estimates from JPMorgan and Goldman Sachs. Oil exports have reached around 17.5 million barrels per day, equivalent to 98% of pre-war levels, while refined product flows stand at 3 million barrels per day, or 58% of those levels. Data also showed that flows through the Strait of Hormuz have approached the highs recorded in June, reflecting the energy sector's resilience despite the risks, amid continued tensions between the US and Iran over control of this vital waterway. On the price front, Brent crude gained 14% in September, buoyed by ongoing concerns over escalating tensions and their potential impact on energy infrastructure.
Notice: This Is an AI-Generated Summary
Comments (0)