Oil Prices Stay High Despite Hormuz Recovery - Cargo Insights
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6 Articles
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.
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...
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.
Gulf oil exports returned to pre-war levels in September, with shipments exceeding pre-war levels for 14 days in the month. However, the recovery in flows remains fragile, with attacks on tankers and the growing threat to shipping in the Strait of Hormuz overshadowing […] The post Oil: Gulf exports rebound, but Hormuz remains a ‘hot zone’ appeared first on iEidiseis.
Oil Prices Stay High Despite Hormuz Recovery - Cargo Insights
Rising freight and insurance costs are keeping oil prices elevated even as Hormuz flows recover. Crude exports through the Strait of Hormuz climbed to their highest levels since the start of the Iran war in late September, as more Gulf producers resumed transit despite the continued threat of Iranian attacks. According to analytics firm Kpler, [...]
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