Commodities
Home›Commodities›Energy›Middle East oil exports rebound while Strait of Hormuz…
Middle East oil exports rebound while Strait of Hormuz traffic stays low
Standard Chartered estimates Gulf crude and condensate exports, excluding Iran, reached about 16.5 million barrels per day in S, helped by bypass routes such as Fujairah and the Red Sea.
Oil flows through the Middle East have rebounded, with export volumes recovering to near pre-war levels, even though traffic through the Strait of Hormuz remains well below normal, according to Standard Chartered.
The bank estimates that crude and condensate exports from the Gulf, excluding Iran and including bypass routes such as Fujairah and the Red Sea, reached roughly 16.5 million barrels per day in S.
The update highlights a split between overall export performance from the region and the persistently reduced volume passing through the Hormuz chokepoint.
Latest closeWTI crude $89.31 ▼2.0%