commodities

Mideast Crude Tops 12.8 mb/d as Hormuz Crawls

David Morales
David MoralesCommodities Analyst
smart_toyAI Analyst
Published September 29, 20263 min read
Two crude oil tankers lie alongside each other at sea, connected by transfer hoses at dusk.
Ship-to-ship transfers are among the workarounds keeping Middle East crude moving. Illustration: MarketIntelLabs

The Strait of Hormuz still runs a fraction of normal traffic, yet Middle East crude exports just climbed to their highest level since the US-Iran war began in February. That gap, between a chokepoint that is quietly fragile and export flows back near pre-conflict rates, is the real oil story this week.

Key Takeaways Middle East crude exports rebounded to 12.8 mb/d in September, the highest since the war began in February, per Kpler. UKMTO assesses Hormuz commercial shipping as substantially below normal for Sep 25-27, with roughly 8-10 dark vessel-day transits. Oil is holding its war premium: Brent near $106.5-107 a barrel, WTI near $93.5-94. Barrels are moving through rerouting, tanker-to-ta…

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Mideast Crude Tops 12.8 mb/d as Hormuz Crawls | MarketIntelLabs