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Middle East crude flows near pre-war levels, JPMorgan says

JPMorgan estimates crude shipments at 17.5 million barrels per day, or 98% of pre-war levels, while diesel and gasoline flows are at 58%.

Reported · Written up by our desk · Energy

Crude oil flows from the Middle East are nearly back to pre-war levels despite ongoing shipping risks, according to JPMorgan Chase & Co., as cited by LiveMint Markets.

JPMorgan said crude shipments have rebounded to 17.5 million barrels per day, equivalent to 98% of pre-war levels. Flows of oil products such as diesel and gasoline were about 3 million barrels a day, or 58%, according to the bank.

LiveMint Markets also reports JPMorgan’s broader view of regional volumes, saying an overall figure measured by a 10-day average over the past five days stood at 89% of 2025 levels.

JPMorgan noted the conflict between the US and Iran has been ongoing for about eight months, with volumes from the region continuing to be a key focus for the global oil market. The bank also pointed to recovery in shipments via the Strait of Hormuz and efforts to restore flows on Saudi Arabia’s East-West pipeline after earlier damage, which feeds its Red Sea ports.

Latest closeWTI crude $91.10 ▲3.2%|Gasoline (RBOB) $3.156 ▼2.4%

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