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Middle East crude flows recover to 98% of pre-war levels despite shipping risks
The brief
- Middle East crude oil flows are at **98% of pre-war levels**
- Shipping risks persist despite the recovery in flows
- Crude supply shifts affect Indian refiners and oil-marketing companies
- Iraq turns to Syria for gasoline as Strait of Hormuz closure disrupts fuel supplies
- Jaishankar Warns Of 'Major Food Crisis' In Coming Months Amid Disrupted Grain Shipments, Fertilizers Shortage, Super El Nino
- Iran issues new threat against Gulf oil trade
- Higher outflow from Hormuz could unwind premiums; oil may correct by 10-15%
- Energy security measures could offset up to 70% of Hormuz oil flows in future disruption: McKinsey
Saudi Arabia’s East-West oil pipeline
Saudi Arabia resumed oil exports through its East-West pipeline after repairs, boosting shipments and restoring partial capacity. Brent traded near $108 per barrel after exports resumed.
Wednesday, 30 September
- Middle East crude flows recover to 98% of pre-war levels despite shipping risks