Oil flows through Hormuz, alternative routes near 80% of pre-war levels – WSJ
Oil shipments from the Persian Gulf through the Strait of Hormuz and alternative routes have recovered to nearly 80% of pre-war regional flows, the Wall Street Journal reported Monday, as Middle East crude exports rebound despite the conflict.
Crude exports from major Middle Eastern producers, including Saudi Arabia, Iraq and the UAE, have risen to almost 13 million barrels per day this month, their highest level since February, according to ship-tracking data cited by the Journal.
The Journal reported the recovery is weakening Iran’s ability to use disruption of oil flows through Hormuz as leverage in talks with the United States, as the US Navy and Persian Gulf oil producers become more effective at countering or avoiding Iran attacks.
Saudi Arabia has also begun moving crude through its damaged East-West pipeline and loading tankers in the Red Sea, though volumes remain reduced, the Journal reported.