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.
215 Articles
215 Articles
Middle East crude exports recover to near pre-war levels but oil products still lag, analysts say
Middle East crude oil exports have rebounded to 17.5M bbl/day on a 10-day average, or 98% of pre-war levels, despite continued risks to shipping, JPMorgan analysts said.
Oil prices retreat as Middle East export recovery tempers Iran war fears
Oil prices fell sharply on Tuesday – with Brent crude dropping 1.5% to $103.72 and WTI declining 2.2% to $90.62 – as Middle Eastern crude exports recovered to 15.5 million barrels per day, the highest since the conflict began seven months ago. Saudi Arabia spearheaded the recovery by more than doubling its crude exports from 2.45 […]
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 […]
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