Singapore, Oct. 5 (SANA) Middle East oil exports excluding Iran rose above pre-war levels on several days last week, signaling a recovery in regional crude flows despite attacks on tankers and continued risks to shipping through the Strait of Hormuz.
Shipping data from Kpler showed exports exceeded the pre-war level of about 18 million barrels per day on four of the seven days in the final week of September, according to Reuters.
The recovery marks a sharp turnaround from April, when oil flows through the Strait of Hormuz fell to around 1 million barrels per day, compared with roughly 20 million barrels per day before the U.S.-Israeli war on Iran began in late February, according to Kpler data cited by AFP.
The increase in shipments is beginning to ease some of the pressure on oil markets. Brent crude futures fell 66 cents, or 0.65%, to $101.59 a barrel early Monday, while U.S. West Texas Intermediate crude fell 95 cents, or 1.03%, to $90.12 a barrel, Reuters reported.
Oil prices were pressured by recovering Middle East exports and plans by Group of Seven countries to release 100 million barrels of crude and fuel from emergency reserves, although concerns over further damage to Gulf energy infrastructure continued to support prices.
Despite the recovery in exports, shipping through the Strait of Hormuz remains exposed to disruption following attacks on vessels in the strategic waterway.
R.D/ABD
